Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 11, 2025.
Brendan McDermid | Reuters
Stock futures were mixed Friday as investors prepare for a key nonfarm payrolls report.
Futures tied to the Dow Jones Industrial Average inched down 31 points, or 0.1%, while S&P 500 futures rose 0.2%. Nasdaq-100 futures gained 0.5%.
The August jobs report is set for release at 8:30 a.m. ET. Economists polled by Dow Jones expect the U.S. economy added 75,000 jobs last month. The unemployment is forecast to rise to 4.3%.
The report follows the release of weaker-than-expected ADP private payrolls data. Investors are hoping the reading will lend support to the Federal Reserve’s case to go ahead with an expected rate cut at its September policy meeting. Fed funds futures trading is currently pricing in a 97% chance that benchmark interest rates will move lower when the central bank makes a decision on Sept.17, according to the CME Group’s FedWatch tool.
“[The] jobs report will be the deciding factor, but so far this week the data is confirming a slowdown in the labor market,” said Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. “In the short-term, markets may embrace that data because it should increase the odds of Fed rate cuts. But if the numbers deteriorate too much, it could raise concerns about the health of the economy.”
Investors are heading into the August nonfarm payrolls report with stocks coming off of a fresh record. The S&P 500 closed at a new high on Thursday, thanks an afternoon boost in risk appetite.
Stocks are also on pace for a winning week. The S&P 500 has climbed 0.7%, while the technology-heavy Nasdaq Composite is registered a 1.2% gain. The 30-stock Dow has gained 0.2%.