S&P 500 futures were down slightly early Friday as investors anticipated the November jobs report.
Futures contracts linked to the benchmark stock index fell 0.16%. Dow Jones Industrial Average futures fell 0.1% and Nasdaq 100 futures fell 0.33%.
Shares of technology companies were on the move after hours trading after quarterly results. Asana, Zscaler and Marvell all slipped.
In regular trading, the Dow Jones closed nearly 195 points lower, while the S&P 500 edged down 0.09%. The tech-heavy Nasdaq Composite gained 0.13%.
The moves followed a mixed batch of economic data, including a basic personal consumption expenditure report this was slightly better than expected on a monthly basis and a larger than expected drop in the ISM manufacturing index. The so-called PCE deflator is one of the Federal Reserve’s favorite inflation indicators.
“Taken together, these two data may suggest a soft landing for the U.S. economy as long as growth doesn’t slip much further,” Goldman Sachs’ Chris Hussey said in a note Thursday.
Investors are focused on the Labor Department’s report on nonfarm payrolls, unemployment rate and hourly wages, due at 8:30 a.m. ET on Friday. Economists expect the economy to add 200,000 jobs in November, according to Dow Jones. That would be a decrease from the 261,000 added in October.
Friday is the last monthly jobs report before the Federal Reserve’s two-day meeting on Dec. 13-14, when the central bank is expected to raise its target federal funds rate by half a percentage point.