Wall St futures rise ahead of jobs report as bond market steadies, oil slips
SPY•U.S. stock futures rose, with Dow futures up 0.51%, S&P 500 futures up 0.48% and Nasdaq 100 futures up 0.73%, as Treasury yields retreated and oil prices slipped ahead of September jobs data.
1. Futures rise ahead of jobs data
U.S. stock index futures advanced Friday as Treasury yields retreated and softer oil prices steadied investor sentiment ahead of the September nonfarm payrolls report. Economists anticipated slower job growth and an unemployment rate holding at 4.1% for a third straight month. Traders saw a 76% chance the Federal Reserve would keep rates unchanged in October, up from about 29% a week earlier.
2. Stocks move in premarket trading
Chips and megacap stocks led gains, with Nvidia up nearly 1.2% and Broadcom and Advanced Micro Devices each up about 1.3%. Nike fell 10.7% after forecasting a steep annual revenue decline due to weakness in China, announcing job cuts and a shake-up of its global business divisions. Moderna gained 1.2% after Nasdaq said it would join the Nasdaq-100 on October 9.
