During Friday's premarket, stock futures made a little gain. Investors are keeping their fingers crossed for the US unemployment rate-tracking monthly non-farm payrolls report.
If the number of people finding jobs decreases, the Federal Reserve may decide to lower interest rates. While investors awaited a crucial jobs data, US markets appeared poised to gain at Friday's opening bell.
Even though the Dow Jones Industrial Average was expected to lose around 40 points, the Nasdaq 100 and S&P 500 futures were up little after 5 a.m. ET. However, during morning trade, the blue-chip FTSE 100 index in London fell approximately 0.4%.
Once again, chipmakers were among the top gainers; artificial intelligence (AI) darling Nvidia was up 3% in New York premarket trade.
The non-farm payrolls report, which measures the number of jobs created to the economy last month, will be closely watched by investors later on.
Economists surveyed by Bloomberg estimate the amount of jobs added to drop down from 353,000 to 200,000.
The Federal Reserve may feel pressured to begin reducing interest rates sooner as a result of this slowdown, in an effort to forestall an increase in the unemployment rate.
In a statement to Congress on Wednesday, Federal Reserve Chair Jerome Powell put an end to the rising chorus of analysts doubting the likelihood of interest rate reduction this year. Powell assured lawmakers that the central bank will continue to decrease rates this year.
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