U.S. stock futures traded higher early Friday as traders awaited the release of August’s Jobs report, due later today. This comes despite Thursday’s weaker-than-expected ADP employment change report.
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Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.36%, 0.18%, and 0.04%, respectively, at 4:14 a.m. EST on September 5.
During Thursday’s regular trading session, all three major indexes closed in positive territory. The S&P 500, the Dow, and the Nasdaq Composite rose 0.83%, 0.77%, and 0.98%, respectively. Additionally, they remain on track to post weekly gains.
After the markets closed yesterday, Broadcom (AVGO) stock jumped nearly 5% following the release of better-than-expected third-quarter results. Broadcom’s sales surged 63% year-over-year, backed by solid demand for its custom AI accelerators (XPUs). Plus, the chipmaker issued robust guidance supported by a $10 billion order from a new, undisclosed customer.
On the economic front, investors are awaiting today’s release of the nonfarm payrolls data and the U.S. unemployment rate. Economists currently forecast an increase of about 75,000 jobs for August. Notably, a softer jobs report would likely strengthen the case for a Federal Reserve interest rate cut.
There are no important earnings reports scheduled for today.
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.16%. WTI crude oil futures were trending lower, hovering near $63.22 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $3,608 per ounce on Friday.
Elsewhere, European stocks opened mostly higher on September 5, as traders worldwide awaited the U.S. jobs report, which is expected to help shape the Federal Reserve’s interest rate decision later this month.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded higher on Friday, boosted by reports that U.S. President Donald Trump reduced tariffs on Japanese auto imports to 15% from 27.5%, while traders also awaited the U.S. jobs report.
Hong Kong’s Hang Seng index rose 1.41%. In China, the Shanghai Composite gained 1.24%, and the Shenzhen Component advanced 3.31%. Meanwhile, Japan’s Nikkei added 1.03%, and the Topix rose 0.51%.
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