Stock futures edged higher on Friday as investors anticipated that an unexpected decline in the latest jobs report might persuade the Federal Reserve to hold interest rates steady.
Nasdaq 100 futures led the gains, climbing 0.8%, while S&P 500 futures increased 0.4%. The Dow Jones Industrial Average futures rose by 110 points, or approximately 0.2%.
The July nonfarm payrolls report showed a decrease of 23,000 jobs, contrasting with economists’ expectations of an 83,000 gain.
The unemployment rate dropped to 4.1%, while the labor force participation rate fell to its lowest level in over five years an unexpected move, as economists had forecast it would remain steady at 4.2%.
Source (CNBC)
