financetom
Market
financetom
/
Market
/
US STOCKS-Futures waver on anxiety ahead of jobs data
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US STOCKS-Futures waver on anxiety ahead of jobs data
Aug 8, 2024 2:53 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Futures: S&P 500 down 0.1%, Nasdaq up 0.06%, Dow down

0.15%

Aug 8 (Reuters) - U.S. stock index futures were mixed on

Thursday, as investors turned cautious ahead of another jobs

report that will be closely monitored for more hints on the

health of the American economy after weak economic data last

week.

Megacap and growth stocks swung between gains and losses in

premarket trading and extended some pressure from the previous

session, partly after Treasury yields rose on soft demand for a

$42 billion sale of 10-year notes.

Global markets are experiencing heightened volatility this

week after dour economic reports coupled with unwinding of

currency carry trade positions pushed the Japanese yen higher

after the Bank of Japan raised interest rates on July 31.

This has increased the significance of weekly jobless claims

data, due at 8:30 a.m. ET, which is expected to show a marginal

dip the number of Americans claiming State unemployment benefits

in the week ended Aug. 3.

"U.S. weekly jobless claims will be very sensitive given the

positions that have stacked up looking for the Fed to cut rates

relatively aggressively by year end," said Marc Ostwald, chief

economist & global strategist at ADM Investor Services.

J.P.Morgan has raised the odds of a U.S. recession by the

end of this year to 35% from 25%, citing easing labor market

pressures.

Money markets currently see a 71.5% chance of a

50-basis-points rate cut by the Fed in September, with

possibility of two more cuts by the end of 2024, according to

CME's FedWatch Tool.

Comments from Richmod Fed President Thomas Barkin, who will

be speaking at 3 p.m. ET, will also be eyed for any clues on the

U.S. central bank's next move.

At 4:52 a.m. ET, U.S. S&P 500 E-minis were down 5.25

points or 0.1%, Nasdaq 100 E-minis were up 10.75 points

or 0.06%, and Dow E-minis were down 60 points or 0.15%.

On the earnings front, Bumble slashed its annual

revenue growth forecast on Wednesday, stoking worries about the

dating app operator's growth plans among investors, sending its

shares down 35% in premarket trading.

Warner Bros Discovery ( WBD ) shares dropped 11.8% after it

wrote down the value of its TV assets due to the uncertainty of

fees from cable and satellite distributors and sports rights

renewals.

(Reporting by Shubham Batra in Bengaluru; Editing by Varun H K)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Japan's Nikkei trades lower after five straight sessions of gains
Japan's Nikkei trades lower after five straight sessions of gains
Aug 18, 2024
(Updates with levels as of 0200 GMT) TOKYO, Aug 19 (Reuters) - Japan's Nikkei share average inched down on Monday after its five-day winning streak, but the index recouped most of its early losses as a weaker yen eased sentiment. The Nikkei index was down 0.04% to 38,047.17 by the midday break, after falling as much as 1% earlier in...
Nvidia Rebounds To Help S&P 500 Post Its Best Week In 2024, But Greed Index Remains In 'Fear' Zone
Nvidia Rebounds To Help S&P 500 Post Its Best Week In 2024, But Greed Index Remains In 'Fear' Zone
Aug 19, 2024
The CNN Money Fear and Greed index showed further improvement in the overall market sentiment, while the index remained in the “Fear” zone on Friday. U.S. stocks settled higher on Friday, with the S&P 500 recording its best week since Nov. 2023. The S&P 500 gained around 3.9%, while the Nasdaq and Dow Jones gained 5.2% and 2.9%, respectively, last...
Estée Lauder, Palo Alto Networks And 3 Stocks To Watch Heading Into Monday
Estée Lauder, Palo Alto Networks And 3 Stocks To Watch Heading Into Monday
Aug 19, 2024
With U.S. stock futures trading lower this morning on Monday, some of the stocks that may grab investor focus today are as follows: Wall Street expects The Estée Lauder Companies Inc. to report quarterly earnings at 27 cents per share on revenue of $3.83 billion before the opening bell, according to data from Benzinga Pro. Estée Lauder shares gained 0.3%...
JGB yields rise as investors continue to shake off US recession fears
JGB yields rise as investors continue to shake off US recession fears
Aug 18, 2024
TOKYO, Aug 19 (Reuters) - Japanese government bond (JGB) yields rose on Monday, as investors continued to unwind positions taken up in the bond rally earlier this month amid easing fears of a U.S. recession. Investors had snapped up bonds at the start of the month after a weak U.S. jobs report sparked widespread concerns of a U.S. recession. But...
Copyright 2023-2026 - www.financetom.com All Rights Reserved