TSLA - Wall Street On 'Wait-And-Watch' Mode Ahead Of Jobs Data Bitcoin Plummets Tesla Extends Climb: Analyst Flags 2 Factors That Pose Risk To Rally | Benzinga
U.S. index futures are trading in a listless manner, as traders look ahead to the all-important monthly non-farm payrolls data. ADP’s private payrolls survey showed that job gains slowed more than expected. In the eventuality of the number coming in line or softer than expected, the market’s reaction will likely be positive if traders focus on its implications for rates. Alternatively, if they perceive it to be an added evidence of economic weakness, a sell-off is likely.
A Federal Reserve official issued ambiguous comments in a public appearance on Friday. The central bank has made rapid strides in bringing inflation to the 2% central bank target but it is still “a way” from achieving the goal, New York Federal Reserve President John Williams said in prepared remarks to be delivered at an event at the Reserve Bank of India, Reuters reported. Uncertainty will mark the near-term policy direction, he added.
Futures Performance (+/-)
Nasdaq 100 +0.14%
S&P 500 +0.01%
Dow -0.01%
R2K -0.27%
In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved up 0.04% to $551.68 and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.20% to $492.01, according to Benzinga Pro data.
Cues From Last Session:
Wall Street stocks ended Wednesday’s abbreviated session mostly higher as traders digested a slew of data points that underlined the soft patch the economy was going through. ADP private payrolls gains slowed ...