Stock futures edge lower as traders await Friday's jobs report: Live Update

Stock futures edged lower on Thursday as investors looked ahead to the September payrolls report later this week, while tensions in the Middle East continued.

The future is bound Dow Jones Industrial Average lost 144 points, or 0.3%. S&P 500 futures decreased by 0.3%, while Nasdaq 100 futures decreased by 0.5%.

October trading got off to a rough start as rising tensions in the Middle East dampened investor enthusiasm. Stocks fell on Tuesday following Iran's missile attack on Israel. Investors are bracing for more uncertainty as Israel begins ground operations in Lebanon.

Rising fears also boosted oil prices. US crude futures rose more than 1.5%, bringing its week-to-date advance to 4.6%.

Wall Street is also awaiting new labor market data with the release of weekly initial jobless claims on Thursday. The main event for traders — and the Federal Reserve as it begins a rate-cutting cycle — is the September payrolls report, due Friday morning.

“As the stock market grapples with a range of concerns — including rising tensions in the Middle East, port strikes and election uncertainty — liquidity is key, and there's plenty of it now that the Fed has started to cut interest rates … meaning markets could grind higher,” said Mary Ann Bartels. , Chief Investment Strategist at Sanctuary Wealth

“Embrace the volatility in October, because there's still plenty of fuel left in this bull market,” he added.

In corporate news, the denim maker Levi Strauss Plunged nearly 10% after delivering mixed results for the fiscal third quarter. The company has announced that it is considering the sale of its Dockers business, which is dragging down the overall business.