U.S. stock futures were flat on Friday morning as investors wait a key jobs report for the month of August this will give more insight into the state of the economy and could determine the pace of future Federal Reserve interest rate increases.
Dow Jones Industrial Average futures added 6 points. S&P 500 futures were essentially flat. Nasdaq 100 futures slipped 0.1%.
The Dow Jones and S&P 500 ended the day higher in the previous session in early September, snapping four days of losses. The Nasdaq Composite slid, posting its first five-day losing streak since February, weighed down by falling semiconductor stocks.
All three major averages are expected to end the week lower after falling in the final days of August, on course for their third consecutive negative week. Stocks were weighed down by hawkish comments from Federal Reserve officials signaling that interest rate hikes aren’t going away any time soon. Now traders are watching to see if stocks will retest June lows, especially since September has historically been a poor month for the market.
“A half-day rally just before we have a job number tomorrow might just be just people not wanting to be as short as they have been for the past two days,” Brian said. Kelly, founder of BKCM LLC, on CNBC. “Quick money.”
Retailer actions lululemon jumped nearly 10% in premarket trading after publish quarterly results above Wall Street expectations.