Market Snapshot: S&P 500 futures hold to tight range before jobs report

by | Oct 6, 2023 | Stock Market

U.S. stock futures held to a tight range on Friday ahead of a critical report on the state of the jobs market.What’s happening
Dow Jones Industrial Average futures
rose 5 points, or 0%, to 33309.

S&P 500 futures
gained 2 points, or 0.1%, to 4293.

Nasdaq 100 futures
increased 23 points, or 0.2%, to 14885.

On Thursday, the Dow Jones Industrial Average
fell 10 points, or 0.03%, to 33120, the S&P 500
declined 6 points, or 0.13%, to 4258, and the Nasdaq Composite
dropped 16 points, or 0.12%, to 13220.

What’s driving markets The crucial U.S. jobs report for September is due for release at 8:30 a.m. Eastern, with expectations for a 170,000 rise in payrolls and an unemployment rate of 3.7%. It’s the last jobs report before the Fed’s next interest-rate decision. “And since pricing for another rate hike this year has kept oscillating above and below 50% (currently 38% this morning), today’s reading will be important in determining if another hike remains on the table,” said Henry Allen, a strategist at Deutsche Bank. The stock market has been yanked around this week by labor market data, falling sharply on a report showing a surprise rise in job openings, rising on a report of slowing payrolls …

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