Stock index futures tick higher ahead of jobs report
Stephen Chernin
Stock index futures rose before the bell as investors braced for the September nonfarm payrolls report, with economic data resilience remaining a key driver of market sentiment.
Nasdaq 100 futures (US100:IND) advanced +0.38%. S&P 500 futures (SPX) gained +0.29% and Dow futures (INDU) added +0.28%.
U.S. Treasury yields edged higher across most maturities. The 10-year Treasury yield (US10Y) rose to 5.25%, up +0.0954%, while the 2-year yield (US2Y) climbed to 4.81%, gaining +0.12%. The 30-year yield (US30Y) slipped to 5.62%, down -0.11%.
"Clearly, the monthly jobs reports are always a macro highlight, but this is an important one, as the continued data resilience has been a huge factor supporting US risk assets, and it's also given the Fed space to start hiking rates," Deutsche Bank strategist Jim Reid said.
Top gainers in premarket trading included ON Semiconductor (ON) +7.08%, Apollo Global Management (APO) +2.10%, and Viatris (VTRS) +2.01%. Decliners included NIKE (NKE) -8.71%, Fair Isaac (FICO) -6.35%, and Fox Corporation (FOXA) -1.85%.
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