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US STOCKS-S&P 500, Dow futures muted ahead of jobs data; chips, software stocks rise
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US STOCKS-S&P 500, Dow futures muted ahead of jobs data; chips, software stocks rise
Aug 7, 2026 3:24 AM

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

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

* Futures: Dow down 0.04%, S&P up 0.16%, Nasdaq up 0.54%

Aug 7 (Reuters) - S&P 500 and Dow futures were little

changed on Friday ahead of a key U.S. jobs report that could

influence the interest-rate outlook, while Nasdaq futures rose

as Microchip Technology ( MCHP ) and Atlassian's ( TEAM ) strong forecasts lifted

chip and software shares.

Wall Street's main indexes were headed for strong weekly

gains, with the S&P 500 and the Dow set for their best week

since April and the Nasdaq on track for its strongest weekly

advance since May.

Stronger-than-expected results from AI-related companies

this reporting season have propelled the Dow and the S&P 500 to

fresh record highs, while helping the Nasdaq recover from a

pullback that had briefly pushed it nearly 10% below its

previous peak.

On Friday, collaboration software maker Atlassian ( TEAM )

jumped 28.5% in premarket trading and chip company Microchip

Tech ( MCHP ) advanced 8.5% after both forecast quarterly

revenue above estimates.

Cybersecurity company Cloudflare ( NET ) gained 15.6% after

raising its full-year revenue forecast above estimates.

The reports also lifted the broader sectors, with chip stocks

Marvell ( MRVL ) and Micron up 3.6% and 2%, respectively,

while software stocks Palo Alto rose 3% and Service Now

added 2.4%.

In a move to support more domestic production, the White

House imposed a series of price floors and a 15% tariff on

products made from polysilicon, the raw material used in

semiconductors and solar panels that is primarily produced by

China.

At 05:15 a.m. ET, Dow E-minis were down 20 points,

or 0.04%, and S&P 500 E-minis were up 12.75 points,

or 0.16%. Nasdaq 100 E-minis were up 158.5 points,

or 0.54%.

EYES ON JOBS DATA

The Labor Department will release the non-farm payrolls figures

for July at 8:30 a.m. ET and the economy is expected to have

added 80,000 jobs, up from the 57,000 the month before. The

unemployment rate and average annual earnings are expected to

stay steady from the month before at 4.2% and 3.5%,

respectively.

The Federal Reserve under new Chairman Kevin Warsh has

offered investors little information on forward guidance

regarding monetary policy, sharpening the focus on economic data

and remarks from policymakers.

Probabilities for no change versus a rate hike in September

are now closer to even, the CME FedWatch Tool showed. Last week,

traders were pricing in a 37% chance for rates staying unchanged

versus 63% for a rate increase.

Short-term Treasury yields, a reflection of

short-term interest rate expectations, hovered above 4% as crude

prices inched up above $83 a barrel, adding to inflation

concerns.

Tensions flared up again after Yemen's Iran-aligned Houthis

attacked Saudi Arabia, while a report said Iran is reviewing a

preliminary bill that would bar U.S., Israeli and other

"hostile" vessels from transiting the Strait of Hormuz and would

impose fines of up to 20% of a ship's cargo value for violations

of the proposed restrictions.

Vacation rental company Airbnb ( ABNB ) gained 8.8% after

beating second-quarter revenue estimates, helped by strong

global demand for travel and a boost from first-time users

during the FIFA World Cup.

Solar stocks First Solar ( FSLR ) gained 8.7% and SolarEdge ( SEDG )

climbed 1.8% after Trump's polysilicon trade actions to

compete with China.

​

​

(Reporting by Johann M Cherian in Bengaluru; Editing by Devika

Syamnath)

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