As investors awaited Friday’s jobs report, stock futures saw minimal movement on the morning of Friday.
A mere 6 points, or 0.02%, was added to futures linked to the Dow Jones Industrial Average. While Nasdaq 100 futures dropped 0.16%, S&P 500 futures were essentially unchanged.
The S&P 500 increased by 0.8% while the Dow gained 62.95 points, or 0.17%, during regular trade. Three-day losing streaks were ended by both. There was a 1.37% increase in the Nasdaq Composite.
Both averages are on course to end their five-week winning streak, as indicated by the Dow’s 0.4% weekly loss and the S&P 500’s 0.2% decrease. In the meantime, the Nasdaq recovered to close the week higher. With a 0.2% increase so far, it may record a sixth consecutive winning week if it continues to rise.
Prior to Friday’s grand finale—the significant November nonfarm payrolls report—investor attention has been drawn to employment data, with multiple reports released over the week. 220,000 unemployment claims were recorded initially on Thursday, while 1.861 million claims were reported continuously.
“Investors are holding onto every piece of data to see if the economy can maintain this Goldilocks condition, where the labour market cools off just enough to relieve pressure on salaries without tipping the market into recession,” Homrich Berg chief investment officer Stephanie Lang said to CNBC.
Source (CNBC)
