Stock futures were flat ahead of the key August jobs report

US stock futures were flat on Friday morning as investors waited Major jobs report for the month of August This will provide more information about the state of the economy and determine the pace of future Federal Reserve interest rate increases.

Dow Jones industrial average futures rose 2 points. S&P 500 futures were essentially flat, and Nasdaq 100 futures lost 0.1%.

The Dow and S&P 500 snapped four-day losing streaks in the session prior to early September. The Nasdaq Composite slipped, posting its first five-day loss since February, weighed down by falling semiconductor stocks.

All three major averages ended the week lower after falling in the last days of August, reaching their third negative week in a row. Dovish comments from Federal Reserve officials indicate interest rate hikes won’t stop anytime soon. Now, traders are watching to see if stocks can retrace June’s lows, especially since September has historically been a bad month for the market.

“A half-day rally before we get a jobs number tomorrow means people don’t want to be lower for the last couple of days,” Brian Kelly, founder of BKCM LLC, told CNBC. “Fast money.”

Retailer’s stocks Lululemon It rose nearly 10% in premarket trade Reports quarterly results that beat Wall Street’s expectations.

See also  Fla. Govt. DeSantis' new election crimes unit makes its first arrests

Leave a Reply

Your email address will not be published.