From Nasdaq:

This morning, March S&P 500 E-Mini futures are down -0.24% and March Nasdaq 100 E-Mini futures are down -0.12% due to hawkish comments from the Federal Reserve Chair Jerome Powell. This comes after Wall Street’s major averages ended in the green on Friday.

Nonfarm payrolls rose by 353K jobs last month, surpassing the expected figure of 187K and landing at more than double the December figure. The U.S. January unemployment rate held steady at 3.7%, while U.S. average hourly earnings came in stronger than expectations at +0.6% m/m and +4.5% y/y in January.

The US. market now has a 15.5% chance of a 25 basis point rate cut at the March central bank meeting and a 53.8% chance at May’s meeting. Wall Street continues to focus on Q4 earnings reports and speeches from Fed officials.

In the Eurozone, the economy shows tentative signs of recovery in the first quarter this year. The French January Composite PMI is stronger than expected, while Germany’s January Composite PMI is weaker than expected.

In Asia, China’s Shanghai Composite Index experienced a sixth consecutive session of decline, while Japan’s Nikkei 225 Stock Index closed higher propelled by a softer yen and gains on Wall Street last week.



Read more: Stocks Set to Open Lower as Investors Weigh Powell’s Remarks, Earnings and Fed Speak in Focus