US stock futures pulled back on Friday as investors digested a crucial jobs report that provided clues to the size of this month's expected interest-rate cut and the resilience of the US economy. Tech stocks led the declines, with Nasdaq 100 futures down 0.5%. S&P 500 futures retreated 0.2%, while Dow Jones Industrial Average futures dropped 0.1%. All three indexes had seen more notable slides before the report, however.
The report shifted expectations for the Fed to enact a more sizable rate cut at its meeting in less than two weeks. According to the CME FedWatch tool, traders see a 50-50 chance of a 50 basis point cut, which was up significantly from Thursday. Despite anemic closes, stocks have whipsawed this week as the market assessed incoming economic data to set expectations on the size of the Fed's rate cut. All three indexes are set for significant weekly declines.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market today: S&P 500, Nasdaq notch longest win streaks of 2024 as August turnaround continuesInvestors are counting down to a speech by Jerome Powell at Jackson Hole that could reset rate-cut expectations.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Stock futures little changed after markets claw back August lossesStock futures were little changed ahead of Friday's opening bell with US stocks on pace for their best week of the year.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Nasdaq pulls ahead, stocks mixed ahead of August jobs dataThe Nasdaq Composite (^IXIC) pulls away with a minor win in Thursday's session, closing the day higher by 0.25%. The Dow Jones Industrial Average (^DJI) and ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Nasdaq futures lead markets lower ahead of crucial jobs reportThe pivotal August jobs report will provide clues to the size of the Fed's rate cut this month and the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Dow slumps, Nasdaq whipsaws amid more soft labor market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Stock market today: Dow, Nasdaq seesaw amid more soft jobs market dataLabor data is in focus as the prospect of rate cuts fails to offset growing doubts about the health of the economy.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »