U.S. stock index futures fluctuated ahead of Friday’s open, as shareholders awaited the most recent U.S. nonfarm payrolls data.
Around 6:00 a.m. ET, Dow futures slipped 18 points, but indicated a slightly positive open of 19.85 points. The Nasdaq and the S&P 500 futures indicated a flat-to-positive start to the session for their respective markets.
The moves in pre-market trade came as markets across the globe showed a mixed picture. On Thursday, U.S. stocks finished relatively mixed, after the Dow Jones industrial average erased a nearly 400-point loss during the session, on the back of strong earnings.
On Friday, markets in the Asia-Pacific region closed mostly lower, while in Europe, stocks edged higher during the session.
At 8:30 a.m. ET recently, nonfarm payrolls data, unemployment figures and average hourly wages will be released. Market participants will be paying close attention to the figures to see what they say about the current state of the U.S. economy.
In April, economists estimated that 192,000 jobs were created and that the unemployment rate could have fallen to 4 percent, according to Reuters. In March, the U.S. economy added 103,000 jobs, which was well-below market expectations of 193,000. Friday’s jobs report can be an important factor in assisting to determine the Federal Reserve’s rate hike path.
Several central bank officials are set to deliver remarks Friday.
San Francisco Fed President John Williams will be in Stanford, California, for a lunch keynote at the Hoover Institution’s Currencies, Capital, and Central Bank Balances: A Policy Conference, in Stanford, California. Other Fed officials are because of deliver remarks at the same event, counting Fed Governor Randal Quarles and Dallas Fed President Robert Kaplan.
In the corporate space, Alibaba, Celgene and Virtu Financial are some of the major names set to publish financial results.
Members of the United States’ delegation will continue trade negotiations in China. Treasury Secretary Steve Mnuchin said Friday that the U.S. trade delegation had had positive talks with China so far, Reuters stated. A breakthrough deal between the nations on altering China’s economic policies, however, is unlikely.