<\/p>\n\n\n\n
US stock futures traded slightly lower on Friday as investors awaited a key labor market report that could influence the Federal Reserve\u2019s next decision on interest rates. By 06:21 ET (10:21 GMT), Dow futures had declined by 130 points (0.3%), S&P 500 futures were down by 34 points (0.6%), and Nasdaq 100 futures dropped 207 points (1.1%).<\/p>\n\n\n\n
On Thursday, the Dow Jones Industrial Average and S&P 500 closed lower, while the Nasdaq Composite saw a slight gain. Trading remained volatile as market participants processed mixed employment data. While August saw the smallest hiring numbers since 2021, a drop in jobless claims and an increase in services sector activity helped temper concerns.<\/p>\n\n\n\n
So far in September, the S&P 500 has lost over 2.5%, with the month historically known for weaker stock performance.<\/p>\n\n\n\n
Economists are forecasting 164,000 jobs added to the US economy in August, an improvement from July\u2019s disappointing 114,000. July\u2019s weak figure had fueled fears of a potential recession, triggering market declines. The August payroll data could be crucial in shaping the Fed’s decision at its Sept. 17-18 meeting.<\/p>\n\n\n\n
There is currently a 59% probability of a 25-basis point rate cut at the upcoming meeting, as borrowing costs are already at their highest level in 23 years, between 5.25% and 5.5%. However, another weak jobs report might raise recession concerns and prompt the Fed to consider a larger 50-basis point cut.<\/p>\n\n\n\n
Broadcom Shares Slide on Underwhelming Sales Outlook<\/strong><\/p>\n\n\n\n Broadcom’s shares fell over 9% in premarket trading after the company’s guidance for fourth-quarter sales disappointed. The firm expects $14 billion in revenue, slightly below market estimates of $14.04 billion. While Broadcom’s AI-related business remains robust, the underperformance in non-AI segments dampened investor sentiment.<\/p>\n\n\n\n Despite the sales miss, Broadcom raised its full-year revenue forecast for AI-related products to $12 billion, up from a previous estimate of $11 billion. Nevertheless, other chipmakers, including Nvidia, Advanced Micro Devices, Marvell Technology, and Micron Technology, also saw declines in response to Broadcom\u2019s report.<\/p>\n\n\n\n Crude Oil Prices Firm Amid Jobs Data Anticipation<\/strong><\/p>\n\n\n\n Oil prices were slightly higher during early European trading as investors awaited the US jobs report, alongside weighing a large drawdown in US crude inventories and a potential production delay by OPEC+ producers. Brent crude futures rose 13 cents to $72.82, and US WTI crude futures edged up 12 cents to $69.27.<\/p>\n","protected":false},"excerpt":{"rendered":" US stock futures traded slightly lower on Friday as investors awaited a key labor market report that could influence the Federal Reserve\u2019s next decision on interest rates. By 06:21 ET (10:21 GMT), Dow futures had declined by 130 points (0.3%), S&P 500 futures were down by 34 points (0.6%), and Nasdaq 100 futures dropped 207 …<\/p>\n","protected":false},"author":9,"featured_media":31849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6842],"class_list":["post-105629","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-us"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=105629"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105629\/revisions"}],"predecessor-version":[{"id":105630,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/105629\/revisions\/105630"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31849"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=105629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=105629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=105629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}