From Investing.com: 2024-09-03 05:45:13

1. U.S. equity futures fell as investors returned from the long weekend, awaiting key labor market data. The S&P 500, Dow, and Nasdaq dropped between 0.5% and 0.7%. Focus is now on the upcoming labor market report, following the previous month’s disappointment.

2. The Bureau of Labor Statistics revealed that Hurricane Beryl had a significant impact on temporary layoffs, leading to an increase in unemployment figures. The forthcoming labor report will be crucial for the Federal Reserve’s decision on interest rates at the next meeting. Market participants are watching for the U.S. survey data and other indicators this week.

3. Tesla stock rose premarket after news of a new Model Y version for China, while crude prices retreated on concerns about sluggish economic growth in China, the world’s biggest crude importer. Brent and WTI crude prices dropped as China’s purchasing managers’ index hit a six-month low. Production halts in Libya also added to demand worries.



Read more at Investing.com: US futures fall amid caution ahead of Friday’s jobs report By Investing.com