US stock futures inch higher with focus on nonfarm payrolls data By Investing.com
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Investing.com– U.S. stock index futures rose slightly in evening deals on Thursday with focus turning squarely towards upcoming nonfarm payrolls data for more cues on potential interest rate cuts this year.
Futures stabilized after Wall Street indexes clocked steep losses during the session, hit by a mix of rising geopolitical tensions- specifically between Israel and Iran- as well as hawkish comments from Federal Reserve officials.
rose 0.06% to 5,200.25 points, while rose 0.07% to 18,087.75 points by 20:01 ET (00:01 GMT). steadied around 38,927.0 points.
Nonfarm payrolls awaited for more rate cues
Markets were now awaiting data for March, due on Friday, for more cues on a potentially cooling labor market.
Inflation and the labor market are the two biggest considerations for the Fed in cutting interest rates, with any signs of cooling in the two giving the central bank more impetus to cut rates early.
But the nonfarm payrolls figure has consistently surprised to the upside in recent months, indicating that the U.S. labor market remains strong.
is due next week, and is likely to provide more cues on the path of interest rates.
Wall Street falls after Fed officials wax hawkish
A slew of Fed officials warned this week that sticky inflation could potentially delay the bank’s plans to cut rates.
Minneapolis Fed President Neel Kashkari said on Thursday that sticky inflation could even see the Fed not cut interest rates at all in 2024.
Kashkari’s comments, which came late during Thursday’s session, triggered a sharp pullback on Wall Street.
The fell 1.2% to 5,147.21 points, while the closed down 1.4% at 16,049.08 points. The fell 1.4% to 38,596.98 points.
Earlier on Thursday, Richmond Fed President Thomas Barkin warned that the central bank had more headroom to keep rates steady while it gauged progress against inflation.
Fears of a potential conflict between Israel and Iran also weighed on sentiment, following an alleged Israeli attack on an Iranian consulate in Syria. Concerns over the conflict pushed oil prices to over five-month highs- a trend that could potentially factor into stickier inflation over the coming months.
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Investing.com– U.S. stock index futures rose slightly in evening deals on Thursday with focus turning squarely towards upcoming nonfarm payrolls data for more cues on potential interest rate cuts this year.
Futures stabilized after Wall Street indexes clocked steep losses during the session, hit by a mix of rising geopolitical tensions- specifically between Israel and Iran- as well as hawkish comments from Federal Reserve officials.
rose 0.06% to 5,200.25 points, while rose 0.07% to 18,087.75 points by 20:01 ET (00:01 GMT). steadied around 38,927.0 points.
Nonfarm payrolls awaited for more rate cues
Markets were now awaiting data for March, due on Friday, for more cues on a potentially cooling labor market.
Inflation and the labor market are the two biggest considerations for the Fed in cutting interest rates, with any signs of cooling in the two giving the central bank more impetus to cut rates early.
But the nonfarm payrolls figure has consistently surprised to the upside in recent months, indicating that the U.S. labor market remains strong.
is due next week, and is likely to provide more cues on the path of interest rates.
Wall Street falls after Fed officials wax hawkish
A slew of Fed officials warned this week that sticky inflation could potentially delay the bank’s plans to cut rates.
Minneapolis Fed President Neel Kashkari said on Thursday that sticky inflation could even see the Fed not cut interest rates at all in 2024.
Kashkari’s comments, which came late during Thursday’s session, triggered a sharp pullback on Wall Street.
The fell 1.2% to 5,147.21 points, while the closed down 1.4% at 16,049.08 points. The fell 1.4% to 38,596.98 points.
Earlier on Thursday, Richmond Fed President Thomas Barkin warned that the central bank had more headroom to keep rates steady while it gauged progress against inflation.
Fears of a potential conflict between Israel and Iran also weighed on sentiment, following an alleged Israeli attack on an Iranian consulate in Syria. Concerns over the conflict pushed oil prices to over five-month highs- a trend that could potentially factor into stickier inflation over the coming months.
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