U.S. stock futures traded flat on Friday morning as investors awaited a crucial September jobs report, for insights into the state of the labor market. Futures on the S&P 500 (SPX), the Dow Jones Industrial Average (DJIA), and the Nasdaq 100 (NDX) were down by about 0.08%, 0.01%, and 0.16%, respectively, at 3:49 a.m. EST, October 4.
The major indices ended Thursday in the red, with the Dow Jones and the S&P 500 down 0.44% and 0.17%, respectively. Further, the Nasdaq Composite declined 0.04%. Market sentiment was negatively impacted by rising oil prices, which were driven by escalating tensions in the Middle East. On a positive note, the end of the strike that had closed ports along the U.S. East Coast, along with jobless claims data aligning with expectations, offered some relief to investors.
Moving to major news, Nvidia (NVDA) shares climbed 3.4% after CEO Jensen Huang indicated strong demand for the company’s next-generation AI chips. On the other hand, Tesla (TSLA) dropped 3.4% after announcing a Cybertruck recall. Also, Constellation Brands (STZ) fell 4.7% following the release of mixed second-quarter results.
In noteworthy after-market action, Spirit Airlines (SAVE) plummeted by 31% on reports of potential bankruptcy talks with creditors.
Investors are now eagerly watching today’s Nonfarm Payrolls report for September. Economists expect the U.S. economy to have added 140,000 jobs last month, roughly the same as 142,000 in August. Further, the unemployment rate is expected to remain steady at 4.2%.
Meanwhile, the U.S. 10-year treasury yield was down at the time of writing, floating near 3.836%. At the same time, WTI crude oil futures trended higher, hovering near $74.29 per barrel as of the last check.
Elsewhere, European markets opened higher today as investors continued to monitor escalating tension in the Middle East and awaited a key U.S. jobs report due today.
Asia-Pacific Markets Traded Higher on Friday
Asia-Pacific indices were in the green today ahead of crucial U.S. jobs data scheduled for release today.
Hong Kong’s Hang Seng index rallied 2.59%. Further, Japan’s Nikkei 225 and Topix indices finished higher by 0.22% and 0.39%, respectively.
Investors should note that China’s stock market remained closed due to the Golden Week holiday.
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