U.S. Stock Futures Edge Up as Markets Hold Breath for August Jobs Data
Wall Street's betting slips get a cautious polish ahead of the main event.
The Pre-Game Jitters
Futures tick higher while traders white-knuckle their desks waiting for the August jobs report to drop. Everyone's pretending they aren't nervously refreshing their screens.
The Big Wait
No major moves—just the financial world's version of staring at the microwave. The numbers will dictate the next Fed move, and everyone's acting like they haven't already priced in three different outcomes.
Because nothing says 'stable economy' like hanging every decision on a single data point that gets revised next month anyway.
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All three major indices climbed on Thursday. The S&P 500, the Dow, and the Nasdaq Composite ROSE 0.83%, 0.77%, and 0.98%, respectively. Further, they are on pace to post gains for the week.
The market is looking forward to Friday’s nonfarm payrolls data with expectations that a softer jobs report WOULD strengthen the case for a Federal Reserve interest rate cut. Currently, economists are forecasting an increase of 75,000 nonfarm payrolls for August. Also, the U.S. unemployment rate is due for release tomorrow.
