U.S. stock futures rose on Friday, marking a strong end to a tumultuous week on Wall Street amid an onslaught of market-moving events.
Futures prices linked to the benchmark S&P 500 Stock Index (^GSPC) rose 0.6%, but futures prices for the blue-chip Dow Jones Industrial Average (^DJI) were sluggish, hovering just above the flat line. ing. The Nasdaq Composite Index (^IXIC), which has a high proportion of high-tech stocks, rose more than 1% and was expected to lead the rise.
A big week for investors is coming to a close, with the final data point coming in the form of January’s jobs report. As Yahoo Finance’s Josh Schafer reports, Wall Street expects job growth to decline slightly last month and the unemployment rate to rise slightly.
The labor market remains resilient despite the Federal Reserve’s interest rate hike campaign, but other indicators this week showed signs of softening. The decline sparked by Jerome Powell just two days ago is now almost a footnote, especially after Powell suggested that a strong labor market is actually a good sign. Friday’s jobs report could once again change expectations about the Fed’s interest rate policy. .
Meanwhile, the S&P 500 and Nasdaq were still basking in the glow of strong earnings reports from tech giants Amazon (AMZN) and Meta (META) on Thursday. As Yahoo Finance’s Hamza Shaban writes, they delivered a product that Microsoft (MSFT) and Alphabet (GOOGL, GOOG) failed to achieve earlier this week. Meta soared more than 17% in pre-market trading, and Amazon soared nearly 7%.
Apple (AAPL) also appeared to be disappointed by warning signs about its China business, despite Thursday’s higher profit. Apple fell as much as 2.5% before the market opened.
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