Wall St futures gain as yields, oil prices ease ahead of jobs report
SPY•U.S. stock futures rose as Treasury yields and oil prices eased ahead of the September jobs report. Dow futures gained 0.51%, S&P 500 futures 0.5% and Nasdaq 100 futures 0.83%.
1. Futures rise before jobs data
U.S. stock index futures rose on Friday as Treasury yields dropped on lower chances of an interest-rate hike this month and oil prices eased. Investors awaited the September nonfarm payrolls report, due at 8:30 a.m. ET; economists expected job growth to slow and unemployment to remain at 4.1% for a third straight month.
2. Stocks and rate outlook
At 4:59 a.m. ET, Dow futures were up 0.51%, S&P 500 futures 0.5% and Nasdaq 100 futures 0.83%. Nvidia gained nearly 0.9%, while Broadcom and AMD rose about 1% each. Nike fell 10% after forecasting a steep annual revenue drop, announcing job cuts and planning to reorganize its global business divisions. Traders saw a 76% chance of the Fed holding rates steady in October, up from about 29% a week earlier.
