S&P 500 futures were little changed early Friday as investors kept their eyes on the highly anticipated July jobs report, a key economic release that could influence market sentiment and expectations for the U.S. economy. Nasdaq 100 futures gained 0.45%, while S&P 500 futures rose 0.15%. Dow Jones futures, meanwhile, remained flat as traders waited for fresh clues about the strength of the labor market.
Several major companies helped lift sentiment before the opening bell. Airbnb shares jumped more than 8% after the vacation rental company reported stronger-than-expected results, while Cloudflare surged 16% after delivering an upbeat outlook for the current quarter and full year. The gains came after Wall Street ended Thursday lower, with the Dow falling more than 460 points, or 0.9%, while the S&P 500 slipped 0.2% and the Nasdaq Composite declined 0.1%.
Oil prices also remained a major focus for investors. West Texas Intermediate crude was trading slightly lower at around $77.19 a barrel, while Brent crude slipped to about $82.26. Despite the previous session’s losses, U.S. stocks were still on track for a second consecutive week of gains. Technology stocks have been particularly strong, with semiconductor shares leading the rebound and the iShares Semiconductor ETF gaining more than 5% for the week.
Attention now turns firmly to the July employment report, with economists expecting the U.S. economy to have added about 83,000 jobs while the unemployment rate remains at 4.2%. Investors will also be watching wage growth and labor-force participation closely, as those figures could provide important signals about the health of the economy and the direction of future monetary policy.
Global markets were mixed as European stocks edged higher, while Asian markets delivered a more uneven performance. Still, optimism has returned to parts of Wall Street as strong corporate earnings and hopes for lower oil prices support the broader market outlook. Investors are also watching developments around the Strait of Hormuz, with expectations that a reopening could ease energy costs and inflation concerns. With technology stocks regaining momentum, some market analysts believe the recent rally could have further room to run.
source: cnbc
