U.S. stock futures showed a relatively flat trend on Tuesday night. The S&P 500 had just posted a new record close, with futures tied to it adding a mere 0.1%. Nasdaq 100 futures advanced by 0.2%, while Dow Jones Industrial Average futures rose 86 points or 0.2%. During the regular session, the S&P 500 inched up by 0.05%, and the Nasdaq Composite added 0.4%, both closing at records. However, the 30-stock Dow was the laggard, with a decline of nearly 0.2%.

December Trading Month and LPL Financial's Outlook

The major averages had a tepid start to the December trading month compared to their strong November advance following Donald Trump's victory at the polls. According to LPL Financial portfolio strategist George Smith, the rally is likely to pick up again this month. "Turning the calendar ahead to December, momentum could continue for stocks as historically it has been a good month for stock market seasonals," he said. "These strong returns are historically often back-end loaded."

Impact of Labor Market Data

Labor market data, particularly the November payrolls report due on Friday, could shape the next stage of the rally. Data issued on Tuesday showed that job openings totaled 7.74 million in October, topping economists' forecasts. This indicates a healthy labor market, which is often a positive sign for the stock market.

Fed Front and Jerome Powell's Speech

On the Federal Reserve front, Chair Jerome Powell will be speaking in New York in a moderated discussion on Wednesday afternoon. The Fed's decisions and Powell's remarks often have a significant impact on the stock market. Investors will be closely watching for any hints or signals regarding the future direction of monetary policy.

Earnings Reports and Market Moves

On the earnings front, Chewy, Dollar Tree, and Foot Locker are among the companies scheduled to report earnings on Wednesday morning. Salesforce, a software stock, advanced 6% after posting a revenue beat in the third quarter. Revenue of $9.44 billion topped consensus forecasts calling for $9.35 billion. Meanwhile, adjusted earnings of $2.41 per share slightly missed estimates for $2.44 per share. Marvell Technology, a developer of integrated circuits, jumped 10% after issuing rosy guidance for the current quarter. The company sees fourth-quarter revenue coming in at $1.80 billion, compared to Wall Street's estimate of $1.65 billion. Adjusted earnings and revenue in the third quarter also topped expectations.