U S Stock Futures Mixed as Investors Anticipate Key Jobs Report Amid Market Volatility

August 09, 2024 03:00 AM AEST | By Team Kalkine Media

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U.S. stock index futures were mixed on Thursday as investors awaited a crucial jobs report that may shed light on the U.S. economy's health. Premarket trading showed fluctuations in megacap and growth stocks, impacted by rising Treasury yields and weak demand for a $42 billion 10-year note sale. Global markets remain volatile, influenced by negative economic reports and the Japanese yen's rise after the Bank of Japan's recent rate hike. The focus is on weekly jobless claims data, expected to show a slight decrease in unemployment claims. Market expectations for Federal Reserve rate cuts are high, with a 71.5% chance of a 50-basis-point cut in September. At 4:52 a.m. ET, S&P 500 E-minis were down 0.1%, Nasdaq 100 E-minis up 0.06%, and Dow E-minis down 0.15%. Bumble’s shares dropped 35% after lowering its revenue forecast, while Warner Bros Discovery fell 11.8% following a TV asset write-down.

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