Traders work on the trading floor of the New York Stock Exchange (NYSE) on November 22, 2024 in New York City, the United States.
Brendan McDermid | Reuters
Stock index futures were near flat on Friday morning as investors awaited key nonfarm payrolls data.
Futures and Dow Jones Industrial Average It fell 42 points, or 0.1%. S&P 500 Index Futures fell 0.08%, while Nasdaq 100 Futures It’s flat.
After the close, several companies reported strong quarterly results, sending their stock prices higher. ultimate beauty The company’s shares rose 12% after reporting higher-than-expected third-quarter profit and revenue. GitLab and file signature Quarterly results rose 7% and 14% respectively.
Investors are now looking to Friday’s jobs report, which is expected to provide a clearer picture of the health of the domestic labor market and influence the Federal Reserve’s interest rate decision at its Dec. 17-18 policy meeting. Economists polled by Dow Jones expect nonfarm payrolls to increase by 214,000 in November, up from just 12,000 in October.
Charlie Ripley, senior investment strategist at Allianz Investment Management, said, “With the market expecting a strong rebound in non-farm payrolls, if the employment data exceeds expectations, it may force the Fed to re-open the economy.” Consider the pace of interest rate cuts next year.
Given the continued strength of the U.S. economy, Federal Reserve Chairman Jerome Powell has previously said that policymakers do not need to “rush to lower interest rates.”
Stocks closed lower on Thursday, with major averages retreating from records set in the previous session. So far this week, S&P 500 Index Up 0.7%, tech stocks gain Nasdaq Index has risen 2.5%. 30 stocks Dow Chemical It fell 0.3% during the period.
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