Market Snapshot: U.S. stock futures ease ahead of key jobs report, with bank turmoil also in the spotlight

by | Mar 10, 2023 | Stock Market

U.S. stock futures slipped on Friday ahead of the release of the pivotal jobs report, as investors also focus on the stress in the banking sector.What’s happening
Dow Jones Industrial Average futures
fell 164 points, or 0.5%, to 32360.

S&P 500 futures
dropped 14 points, or 0.4%, to 3906.

Nasdaq 100 futures
decreased 2 points, or 0%, to 12143.

On Thursday, the Dow Jones Industrial Average
fell 544 points, or 1.66%, to 32255, the S&P 500
declined 74 points, or 1.85%, to 3918, and the Nasdaq Composite
dropped 238 points, or 2.05%, to 11338.

What’s driving markets Attention turns to the release of the nonfarm payrolls report, after Federal Reserve Chair Jerome Powell this week said the “totality” of jobs and inflation data would determine whether the central bank would go back to 50 basis point hikes. Economists polled by the Wall Street Journal expect 225,000 jobs outside the farm sector will have been created in February, and for the unemployment rate to stay at 3.4%. The Labor Department releases the report at 8:30 a.m. Eastern. Worries about the health of banks contributed to nervousness, after SVB Financial
said i …

Article Attribution | Read More at Article Source

Share This