Breaking News
Investing Pro 0
Cyber Monday Extended SALE: Up to 60% OFF InvestingPro+ CLAIM OFFER

U.S. Stock Futures Search for Direction Ahead of Jobs Market Data

Stock Markets Oct 07, 2022 06:27AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
EUR/USD
-0.05%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
XAU/USD
+0.54%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
AMD
-1.12%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
Gold
+0.51%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
LCO
-0.93%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
ESZ2
-0.08%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

By Scott Kanowsky

Investing.com -- U.S. stock futures were mixed on Friday, as traders mulled the release of the latest American labor market report, which is expected to factor heavily into the Federal Reserve's upcoming monetary policy path.

At 06:14 ET (10:14 GMT), Nasdaq 100 Futures edged down by 0.30%, dragged lower by a slump in chipmakers after Advanced Micro Devices (NASDAQ:AMD) Inc posted third-quarter sales that missed estimates.

The Dow Futures contract was up 0.14%, while S&P 500 Futures fell marginally by 0.05%.

Wall Street indices previously ended a whipsaw session lower on Thursday as rising yields weighed. The yield on benchmark 10-year U.S. government debt extended the climb on Friday, and is on track for a tenth straight week of increases.

The much-anticipated U.S. nonfarm payrolls data, due out later today, will be a key focus for investors. Continued signs of strength in the jobs market may give the central bank enough space to keep raising interest rates over a longer period of time as it looks to cool red-hot inflation.

Traders are currently pricing in a nearly 73% chance that the Fed will raise rates by 75 basis points at its next meeting, according to CME's FedWatch tool. The central bank has already signaled that U.S. borrowing costs will end the year above 4%, pointing to more pressure on risk-driven assets.

Meanwhile, oil prices gained as markets eyed the release of the nonfarm payroll numbers and are on track to deliver strong weekly gains after the OPEC+ oil group agreed to deeply slash output by two million barrels per day in the coming months.

London-traded Brent Oil Futures climbed 0.96% to $95.33 a barrel, while West Texas Intermediate crude futures increased by 0.90% to $89.35 per barrel. Prices have rallied for four straight sessions, recovering sharply from eight-month lows hit earlier as markets positioned for much tighter supply conditions this year.

Additionally, gold futures moved down by 0.31% to $1,715.45/oz, while EUR/USD exchanged hands at $0.9802.

U.S. Stock Futures Search for Direction Ahead of Jobs Market Data
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Stephen Fa
Stephen Fa Oct 07, 2022 8:10AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Guess no one fears nuclear war yet after last night's Biden gaffe.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email