Dow futures trade higher ahead of August jobs report
Economists forecast that the U.S. economy created 1.4 million jobs in August
U.S. equity futures are trading mixed as investors wait for the most closely watched economic report of the month.
Dow futures are suggesting a rise of 0.6%, with the Nasdaq showing a decline..
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Investors will be paying close attention Friday when the Labor Department releases its August job report. Economists surveyed by FactSet forecast that the U.S. economy created 1.4 million jobs in August, down from 1.74 million jobs in July.
The number of Americans who applied for unemployment benefits fell last week to 881,000, slightly better than what economists had expected, but companies are still letting workers go at numbers well above those seen in the Great Recession.
AUGUST JOBS REPORT LIKELY TO POINT TO A STILL-SLOW RECOVERY
Asian markets skidded Friday after Wall Street had its worst day since June, as investors’ exuberance faltered after a spate of record highs.
Tokyo’s Nikkei 225 fell 1.1%, the Hang Seng in Hong Kong lost 1.3% and China's Shanghai Composite index declined 0.9%.
In Europe, London's FTSE added 0.8%, Germany's DAX was up 0.4% and France's CAC gained 1%.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 38239.66 | +153.86 | +0.40% |
| SP500 | S&P 500 | 5099.96 | +51.54 | +1.02% |
| I:COMP | NASDAQ COMPOSITE INDEX | 15927.900321 | +316.14 | +2.03% |
In the Thursday session, the Dow Jones Industrial Average fell 2.8%, the S&P 500 gave up 3.5%, its biggest loss in three months, and the Nasdaq fell 5% as high-flying technology companies took a tumble after months of spectacular gains.
Wall Street's unloading of technology shares ended with Apple plunging 8%. Amazon lost 4.6% and Facebook gave back 3.8%.
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In energy trading, U.S. benchmark crude was gaining 39 cents to $41.76 per barrel in electronic trading on the New York Mercantile Exchange. It lost 14 cents to $41.37 on Thursday. Brent crude, the international standard, added 34 cents to $44.41 per barrel.
The Associated Press contributed to this article.