Updates after nonfarm payrolls data

By Purvi Agarwal and Nikhil Sharma

Jan 9 (Reuters) - Wall Street's main indexes were set for a higher open on Friday, as investors digested a weaker-than-expected jobs data report, while awaiting a Supreme Court ruling on U.S. President Donald Trump's tariffs.

A Labor Department report showed nonfarm payrolls increased 50,000 in December, compared with an estimated 60,000 rise, according to economists polled by Reuters. The unemployment rate dipped to 4.4%, slightly below the expected 4.5%.

Traders boosted bets on a pause in interest rate cuts in January following the report. They are still pricing in about 55 basis points of easing in 2026, according to data compiled by LSEG.

"It does seem that corporations are holding on to workers for longer, and so not firing at a quick pace, but they're also not creating jobs at a quick pace," said Chris Zaccarelli, chief investment officer, Northlight Asset Management.

"This report is really validating some concerns about this low-hire-low-fire environment."

Meanwhile, the top court in the U.S. is expected to deliver a ruling on the legality of Trump's sweeping tariffs as early as Friday. Traders are anticipating heightened volatility across financial markets if the court strikes them down. Justices have previously voiced skepticism about Trump's authority to impose the tariffs.

Striking down tariffs could impact government revenue, but Treasury Secretary Scott Bessent said on Thursday that he was more worried about the loss of Trump's leverage than revenue.

At 08:48 a.m. ET, Dow E-minis YMcv1 were up 145 points, or 0.29%, S&P 500 E-minis EScv1 were up 22 points, or 0.32% and Nasdaq 100 E-minis NQcv1 were up 104.75 points, or 0.41%.

Wall Street's main indexes ended mixed on Thursday, as declines in tech stocks weighed on the Nasdaq, while consumer discretionary stocks boosted the Dow and countered most tech declines, leaving the S&P 500 flat.

Still, all three indexes are set for weekly gains in the first full trading week of 2026, largely powered by gains in the consumer discretionary and mining sectors.

The Dow is on track for its biggest weekly gain since the last week of November.

Defense stocks that had rallied on Thursday on prospects of a higher U.S. military budget in 2027, stabilized in premarket trading, with Lockheed Martin LMT.N up 1.6% and RTX RTX.N up 0.7%.

Intel INTC.O gained 2.6% after Trump said he had a "great meeting" with the chipmaker's chief executive officer, Lip-Bu Tan.

General Motors shares GM.N slipped 2.2% after the automaker said on Thursday it would take a $6 billion charge to unwind some electric-vehicle investments.

Shares of mortgage lenders rose before the bell, a day after Trump said he is ordering his representatives to buy $200 billion in mortgage bonds to bring down housing costs.

LoanDepot LDI.N surged 16.4%, Rocket Companies RKT.N gained 6% and Opendoor Technologies OPEN.O rose nearly 12%.

(Reporting by Purvi Agarwal in Bengaluru; Editing by Shinjini Ganguli)

((Purvi.Agarwal@thomsonreuters.com;))