Dow futures climb as traders bet Fed rate hikes are finished and await more jobs data, Apple earnings

U.S. stock futures rose on Thursday, building on their weekly gains as traders cheered signs that the Federal Reserve may forego further interest-rate hikes while digesting more labor-market data.

These hints spurred stocks to move higher, and bond yields to fall, as investors bet that the Fed is likely finished raising interest rates, at least for now. Earlier in the week, a key forward-looking indicator, the Institute for Supply Management’s manufacturing index, came in well below estimates, while the ADP private-sector employment gauge surprised to the downside.

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