Dow futures gain ahead of crucial jobs report
2024.01.04 19:02
© Reuters
Investing.com – US stock futures saw a modest increase on Thursday evening in the lead-up to a significant jobs report, as Wall Street attempts to recover from a lackluster start to January.
BY 6:25 pm ET (11:25 pm GMT) added 0.2%, while and added 0.1% apiece.
During Thursday’s regular trade, the and posted their respective fourth and fifth consecutive losses. While the closed marginally higher on the day, it remains down for the week.
All three major averages are set to break their nine-week winning streaks, with the Nasdaq Composite bearing the brunt of the week’s losses at 3.3%.
The market is being affected by the cooling of large cap tech stocks, such as Apple (NASDAQ:), which has received two downgrades from research firms this week.
The December jobs report, expected before the bell on Friday, could be a key driver of the market. Economists surveyed by Dow Jones anticipate that job growth slowed to 170,000 last month.
A surprise in either direction could negatively impact stocks, as many investors are expecting the economy to continue growing, albeit at a slower pace, which would allow the Federal Reserve to cut rates.
On the bond markets, rates were at 4.007%.
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