U.S. Futures Trade Higher as Investors Await Key Jobs Report
After a sharp sell-off in all three major indices on Thursday, U.S. futures are trading higher on Friday morning. Investors are eagerly awaiting the release of the key US monthly jobs report to gauge the strength of the labor market.
On Thursday, the Dow Jones, S&P 500, and Nasdaq 100 all saw significant declines, with the Dow Jones marking its steepest one-day drop since March 2023. The market downturn was attributed to concerns about inflation due to higher oil prices and doubts about future interest rate reductions following comments from Federal Reserve Presidents.
Futures on the Nasdaq 100, S&P 500, and Dow Jones are all up by about 0.2%, 0.19%, and 0.11%, respectively, indicating a positive start to the trading day. Investors are particularly interested in the Nonfarm Payrolls and Unemployment data, with expectations of a decline in the unemployment rate and an increase in Average Hourly Wages.
Meanwhile, the U.S. 10-year treasury yield and WTI crude oil futures are both trending higher, reflecting a positive outlook for the market. In Europe, indices are expected to open mixed as investors evaluate key economic data.
In Asia-Pacific markets, indices were mixed with concerns about interest rates remaining higher for an extended period. Hong Kong’s Hang Seng index was up slightly, while Japan’s Nikkei and Topix closed lower. Chinese markets remain closed for a public holiday.
Overall, investors are closely monitoring economic indicators and market trends to make informed decisions in today’s trading session.
