The Labor Department’s monthly jobs report for February might get the attention of investors on Friday. The unemployment rate is expected to come in unchanged at 3.7 percent.
Early signs from the U.S. Futures Index suggest that Wall Street might open in the negative zone. Asian shares finished higher, while European shares are trading mostly down.
As of 7.35 am ET, the Dow futures were falling 156.00 points, the S&P 500 futures were down 7.75 points and the Nasdaq 100 futures were sliding 42.50 points.
The U.S. major averages finished higher on Thursday. The tech-heavy Nasdaq surged 241.83 points or 1.5 percent to 16,273.38, while the S&P 500 jumped 52.60 points or 1.0 percent to 5,157.36. The narrower Dow posted a more modest gain, rising 130.30 points or 0.3 percent to 38,791.35.
On the economic front, the Employment Situation for February will be released at 8.30 am ET. The non-farm payrolls consensus is 190,000, while it was up 353,000 in the prior month. The unemployment rate consensus is up 3.7 percent, while it was up 3.7 percent in January.
The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America rig count was 860 and the U.S. rig count was 629. The Canada rig count was 231.
Asian stocks hit a seven-month high. China’s Shanghai Composite index rose 0.61 percent to 3,046.02.
Hong Kong’s Hang Seng index jumped 0.76 percent to 16,353.39.
Japanese markets ended slightly higher. The Nikkei average rose 0.23 percent to 39,688.94 but posted its first weekly drop in six. The broader Topix index closed up 0.30 percent at 2,726.80.
Australian markets hit a new record high. The benchmark S&P ASX 200 jumped 1.07 percent to 7,847.0, while the broader All Ordinaries index closed up 1.01 percent at 8,107.50.
European shares are trading mostly lower. CAC 40 of France is adding 2.33 points or 0.03 percent. DAX of Germany is down 28.54 points or 0.16 percent. FTSE 100 of England is declining 45.36 points or 0.59 percent. The Swiss Market Index is progressing 41.04 points or 0.35 percent.
Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is down 0.13 percent.
Business News
Wall Street Poised To Open Lower
2024-03-08 12:57:38
