Stock futures were little changed as Wall Street awaited the September jobs report: Live Update
Traders work on the floor of the New York Stock Exchange during afternoon trading on October 03, 2024 in New York City.
Michael M. Santiago Getty Images
US stock futures were flat on Thursday night as traders awaited the widely anticipated release of the September jobs report on Friday morning.
Futures are tied to the Dow Jones Industrial Average 26 points, or less than 0.1% lost. S&P 500 futures And Nasdaq 100 futures Little had changed.
A closely watched port strike also ended Thursday night as the International Longshoremen's Association and the United States Maritime Alliance reached a tentative agreement on wages. The parties agreed to extend their existing agreement into January to allow more time for further negotiations.
The moves came after Thursday's trading session ended with losses. 30-stock Dao decreased by 184.93 points or 0.44%, while S&P 500 The slide is 0.17%. Tech-heavy Nasdaq Composite The day ended 0.04% lower.
US oil futures Thursday rose about 5%, weighting the major average. Fuel prices rose a foot this week as tensions rose in the Middle East after Iran launched a missile attack on Israel.
Investors are gearing up for Friday's September payrolls report, which will be the next big catalyst for markets. Economists polled by Dow Jones expected nonfarm payrolls to show an increase of 150,000, up from 142,000 in August. The unemployment rate is expected to hold steady at 4.2%.
Friday's employment data will only change markets if it comes in lower than expected, said Barbara Doran, founder of BD8 Capital Partners.
“I think tomorrow's number is important, but I don't think it's going to have a big impact, and I'd be very surprised if it's not a good number,” he said Thursday on CNBC's “Closing Bell: Overtime.” Afternoon
Rising geopolitical tensions contributed to a shaky start to October for the stock market. Those headwinds could underweight equities so they end the week in negative territory, Doran added.
In fact, the three major averages are on pace to snap three-week winning streaks. The S&P 500 is off 0.7% for the week so far, as is the Dow. The Nasdaq is on track for a 1.1% loss during the period.