US stock futures were mixed on Friday as Treasury yields slid ahead of the August nonfarm payrolls report and Fed Governor Waller signaled openness to holding rates steady, with Nasdaq 100 futures up 0.5% and Dow futures down 47 points.
Nasdaq 100 futures rose 0.5% as Treasury yields retreated ahead of August nonfarm payrolls. Waller's openness to holding rates steady trimmed odds of a September rate hike, supporting rate-sensitive tech valuations.
Falling Treasury yields eased pressure on rate-sensitive tech valuations, and Fed Governor Waller's openness to holding rates steady reduced expectations for a September rate hike.
A strong August nonfarm payrolls report could revive rate-hike bets and push yields higher, weighing on Nasdaq 100 futures.
Treasury yields retreated ahead of the August nonfarm payrolls report. Fed Governor Waller saying he is open to holding rates steady trimmed odds of a September rate hike, pulling yields lower and boosting stock futures.
Falling 10-year yields mean Treasury prices are rising; long-end bulls are gaining control ahead of the jobs report.
A hot payrolls print would likely push yields up by reinforcing rate-hike bets, while a weak report could extend the slide.
S&P 500 futures added 0.1% as bond yields slid before the payrolls report. The index closed higher Thursday, but the muted futures move reflects caution ahead of the jobs data and mixed Dow futures.
Investors are positioned for the August nonfarm payrolls report, and Dow futures slipped 47 points, signaling caution across the broader equity market.
A strong payrolls print could reinforce a Fed rate-hike path, push yields higher, and pressure equity valuations.
Dow Jones Industrial Average futures slipped 47 points, or 0.1%, even as the broader market rose. The move underscores rotation toward tech and away from more rate-sensitive industrial and cyclical names.
Dow futures fell 47 points as investors favored tech and growth stocks amid falling Treasury yields, leaving the more cyclically weighted Dow behind.
A soft payrolls report that keeps the Fed from hiking could lift the Dow along with the broader market.
Nasdaq 100 futures rose 0.5% and S&P 500 futures added 0.1% as Treasury yields retreated ahead of the August nonfarm payrolls report, while Dow futures slid 47 points. Fed Governor Christopher Waller said he was open to holding rates steady, trimming odds of a September rate hike. The jobs report will steer the Fed's next move; a strong print could revive rate pressure, while soft data may extend the equity rally.
Traders are adjusting positions ahead of the August nonfarm payrolls report, and Fed Governor Christopher Waller's openness to holding rates steady reduced odds of a September rate hike.
Waller said he was open to holding rates steady, which trimmed rate-hike expectations and supported stock futures while pushing bond yields lower.
The jobs data will help the Fed decide its next interest-rate move. Strong employment could reinforce rate-hike bets, while a weak report may keep yields lower.