Futures flat as investors await jobs data to gauge strength of labor market.

From Yahoo Finance: 2024-06-07 06:14:08

U.S. stock index futures were flat as investors awaited the May nonfarm payrolls report to gauge the strength of the labor market and potential interest rate cuts by the Federal Reserve. The S&P 500 and Nasdaq closed slightly lower on Thursday, driven by falling tech stocks despite touching record highs earlier. Economists expect the economy to add 185,000 new jobs in May, with an unemployment rate of 3.9%. Data suggests a weakening labor market, increasing chances of a rate cut in September. Chipmaker Nvidia rose in premarket trading, while GameStop surged 33.2% after news of a livestream from “Roaring Kitty.” AMC Entertainment and Koss Corp also saw gains, along with Robinhood and Lyft.



Read more at Yahoo Finance: Futures steady as markets brace for jobs data