US stock futures are experiencing fluctuation as traders await key payrolls data, which could provide insights into the economy’s health. According to a Bloomberg survey of economists, US employers likely added 160,000 jobs last month, suggesting a labor market holding steady despite mounting policy uncertainty.
The ongoing back-and-forth on tariffs between Mexico and Canada has created significant uncertainty in markets, causing volatility and affecting forward-looking indicators such as surveys and purchasing managers indexes. Despite this, the hard data remains strong, but soft data is deteriorating, leaving investors uncertain about which trend will prevail.
Even a better-than-expected US jobs report could spark a rally in the S&P 500, according to Goldman Sachs Group Inc. The Federal Reserve Chair, Jerome Powell, is set to speak at a monetary policy forum later today.
In other markets, Europe’s stock benchmark retreated on Friday, while Germany’s historic shift towards increased spending put the euro on track for its best week since 2009. Meanwhile, Bitcoin fell as much as 5.7% after a long-awaited order creating a strategic reserve of digital assets disappointed investors.
Key market data includes:
– S&P 500 futures were little changed
– Nasdaq 100 contracts rose 0.1%
– The 10-year US Treasury yield ticked two basis points lower to 4.25%
– Bitcoin fell 1.1% to $88,821.14
Source: https://finance.yahoo.com/news/asian-stocks-dip-wall-street-223504563.html