S&P 500 futures pare gains after October non-farm payrolls data
SPY•S&P 500 futures pared gains after October non-farm payrolls rose by 165,000, above the 65,000 expected, while unemployment was 4.1% versus 4.2% expected. The stronger report reinforced expectations that the Federal Reserve could raise interest rates at its next policy meeting.
1. Jobs report lifts rate expectations
Non-farm payrolls increased by 165,000 in October, compared with economists’ expectation of 65,000, and the unemployment rate was 4.1% versus 4.2% expected. At 8:31 a.m. ET, Dow e-minis were down 0.96%, S&P 500 e-minis were up 0.11%, and Nasdaq 100 e-minis were up 1.37%.
