Following a volatile trading session to end August, stock futures were up on Friday as investors awaited the announcement of fresh jobs data from the United States.
120 points, or 0.3%, were added by futures linked to the Dow Jones Industrial Average. The S&P 500 futures increased by 0.3%, while the Nasdaq 100 futures increased by 0.1%.
Due to stronger-than-expected earnings reports, database software maker MongoDB and Dell Technologies both saw gains in extended trading of 6% and 9%, respectively. Lululemon Athletica’s stock increased by 2% after exceeding Wall Street’s expectations.
Prior to the August jobs data being released at 8:30 a.m. ET, such actions were taken. According to economists surveyed by Dow Jones, there were 170,000 new employment created in the previous month. Investors are holding out hope that the report will show a noticeable slowdown in the economy, which would allow the central bank to halt its practise of raising benchmark interest rates.
The recent increases in commodity prices will have a negative impact on personal consumption expenditures and consumer price index numbers from August to September, according to Alex McGrath, chief investment officer for NorthEnd Private Wealth.
Source (CNBC)
