US stock futures were flat on Friday morning. That’s because investors are waiting for his important August hiring report, which is due on Friday.
Dow Jones Industrial Average futures fell 63 points (0.2%). Both the S&P 500 and Nasdaq 100 futures fell 0.17% for him. Retailer Lululemon’s shares soared nearly 10% in the closing days of trading after reporting better-than-expected quarterly results on Wall Street.
Earlier Thursday, the Dow and the S&P 500 closed at a one-day high, posting four days of losses to start the first trading day of September. The Nasdaq Composite fell, weighed down by a decline in semiconductor stocks, and for the first time since February he fell for five consecutive days.
All three major averages set low at the end of the week after plummeting on the last day of August and are set to be negative for the third consecutive week. Stocks fell after a US Federal Reserve (Fed) official made hawkish remarks suggesting that rate hikes won’t go away anytime soon. Now traders are watching closely to see if the stock will retest his June lows, especially since his September has historically been a weak month for the market.
Brian Kelly, founder of BKCM LLC, said on CNBC’s show, “Tomorrow’s half-day rise just before the job numbers are announced is for the simple reason that people don’t want it to be as short as it has been in the past few days. “Maybe,” he said. “Fast money.”