Futures are tumbling ahead of the jobs report
Near 6:30 a.m. ET, Dow futures were down 191 points, S&P 500 futures were down 22 points, and Nasdaq futures were down 48 points. These amounted to about a 1% decline for the three big indexes, which closed nearly flat on Thursday.
At 8:30 a.m. ET, the Bureau of Labor Statistics will release the most important jobs report we've received in a long time. Beyond what the data tells us about the labor market, it will set expectations for whether the Federal Reserve would raise interest rates for the first time in a decade at its meeting later this month.
Markets are now pricing a 30% probability that the Fed could move this month, down from about 50% two weeks ago.
You can read our full preview of the jobs report here.
After last week's rollercoster for stocks, they managed to eke out a positive close for the week. At these levels, the major indexes are headed for a close in the red this week.
- 2 states where home prices are falling because there are too many houses and not enough buyers
- US buys 81 Soviet-era combat aircraft from Russia's ally costing on average less than $20,000 each, report says
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- 9 health benefits of drinking sugarcane juice in summer
- 10 benefits of incorporating almond oil into your daily diet
- From heart health to detoxification: 10 reasons to eat beetroot
- Why did a NASA spacecraft suddenly start talking gibberish after more than 45 years of operation? What fixed it?
- ICICI Bank shares climb nearly 5% after Q4 earnings; mcap soars by ₹36,555.4 crore