Stock futures remained relatively flat on Wednesday evening as investors anticipated a potential rebound for Wall Street following a turbulent beginning to September. Labor market data is also in focus this week, adding to market uncertainty.

Futures for the S&P 500 saw a slight increase of less than 0.1%, while the Nasdaq 100 futures inched up 0.1%. Meanwhile, futures tied to the Dow Jones Industrial Average dipped slightly by 17 points, or less than 0.1%. This follows a second consecutive session of declines, with the S&P 500 slipping by 0.16% and the Nasdaq Composite dipping by 0.30%. However, the Dow managed to squeeze out a gain of 38 points, or 0.09%, on Wednesday.

All three major stock averages are currently experiencing losses for the week, with investors eagerly awaiting key employment reports. On Thursday morning, market participants will closely monitor the weekly jobless claims data. Then, on Friday, the much-anticipated August nonfarm payrolls report will be released.

Given recent market sensitivity to potential growth concerns, such as Tuesday's sell-off prompted by weak manufacturing data, the jobless claims data gains increased significance. Yung-Yu Ma, Chief Investment Officer at BMO Wealth Management, emphasized the importance of this forward-looking indicator during a recent interview, stating that it provides insights into people's job security, confidence in finding employment, and propensity to spend.

Moving forward, the employment data will play a crucial role in the Federal Reserve's decision on interest rates later this month. Ma maintains his belief in a "soft landing" for the U.S. economy and anticipates the market rally to eventually broaden. However, he cautioned that market turbulence is likely to persist in the near term due to the current high degree of uncertainty.

In terms of economic data to anticipate, jobless claims data for the final week of August is scheduled to be released before the opening bell on Thursday. According to economists surveyed by Dow Jones, initial jobless claims are expected to reach 229,000, slightly lower than the previous week's figure of 231,000.

As trading commenced at 6 p.m. in New York, futures remained steady, giving hope to investors that stability may return to Wall Street and potentially reverse the lackluster start to September.