How the Jobs Report and CPI Could Impact the Nasdaq-100's Next Move

Major equity indexes have staged a remarkable comeback since early April with CME Group's E- Mini Nasdaq 100 futures surging nearly 20% from the lows seen in the first week of the month. While improvements in tariff negotiations have helped fuel the rally, the underlying fundamentals remain a critical factor. Traders are now focusing on two economic reports that

could offer more clarity on the direction of the NASDAQ 100. On June 6th, the May non-farm payrolls report will be released, providing the latest snapshot of the US jobs market. A stronger thanex expected jobs report could signal a healthy economy, which could lift stock prices. However, it could also suggest that the Federal

Reserve might keep interest rates higher for longer, potentially weighing on stocks. Then on June 11th, the CPI will be published, offering the most recent data on inflation. Higher inflation figures could lead the Fed to maintain the Fed fund's target rate. Currently, CME's Fed Watch tool projects two 25 basis point rate cuts in

2025. The CME event volatility calculator indicates that the E- Mini NASDAQ 100 options market is pricing in a 217 point move in NASDAQ futures after the labor report. For traders looking to gain exposure to the NASDAQ 100 index ahead of these economic reports, CME offers several instruments. The E- mini NASDAQ 100 futures provide a larger

contract, offering approximately $400,000 worth of exposure to the index per contract. The micro E- mini NASDAQ 100 at oneten the size provides about $40,000 in exposure per contract, making it suitable for smaller traders or those needing precise hedging. Additionally, options on these futures contracts have listed expirations every day of the week, allowing traders to finally tune