Stock Futures Edge Higher as Rate-Cut Bets Firm Ahead of Jobs Report

US stock futures advanced modestly Friday, with Nasdaq contracts leading gains, as traders await the August jobs report to validate recent signs of labor market softening. The S&P 500 approaches fresh records while markets price in near-certain September Fed rate cuts.

All eyes focus on the 8:30 a.m. ET BLS report expected to show cooling employment conditions. Thursday's rise in jobless claims and slowing private payrolls have cemented expectations for policy easing, with fed funds futures reflecting 99% odds of a September cut.

The tech-heavy Nasdaq 100 futures outperformed, up 0.4%, as growth stocks remain sensitive to interest rate expectations. Market participants now debate not whether cuts will come, but their potential depth and pace should today's data extend the weak labor trend.