US stock futures held near all-time highs on Friday as Wall Street returned from a holiday break, ahead of the key monthly jobs report that will play into Federal Reserve rate-cut calculations. S&P 500 futures were little changed following a record end to a shortened session Wednesday and Thursday's shutdown for the Fourth of July holiday. Dow Jones Industrial Average futures also clung to the flatline, while those on the tech-heavy Nasdaq 100 edged up 0.1%.
Traders are now pricing in a nearly 75% chance of a cut in September, according to CME's FedWatch tool. The key question in Friday's jobs data is whether slowing monthly job growth reflects a normalization in the labor market as it shakes off the pandemic, or the early signs of a broader economic slowdown, Yahoo Finance's Josh Schafer reports.
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