By Medha Singh
(Reuters) – US stock futures were lower on Friday, when investors were waiting for the monthly job data, which could give clues to the Federal Reserve's interest rate fluctuation.
Nonfarm payrolls data from the Ministry of Labor will probably show an increase of 160,000 jobs last month after having increased by only 75,000 in May, according to a Reuters survey of economists. The data is due at 8:30 ET (1230 GMT).
The likely decline in US job growth and expectations of gaining wage gains will probably not be enough to discourage the Fed from cutting interest rates this month in the midst of growing evidence that the economy has slowed.
A range of weak economic data on Wednesday boosted hopes for interest rates and helped Wall Street's record highs indexes.
"It appears that, unless the report shows a radically lower figure ̵
Traders expects the US central bank to lower its borrowing costs by at least a quarter at its political meeting on July 30 and also see a 23% chance of a 50 basis point reduction.
long-lasting US-China trade war is also seen as a reason behind t The Fed's bold stance, even though a trade violence in the neighborhood between the United States and China and their return to talks last week have tempered bets with a half-point net.
52 ET was Dow e-minis () down 35 points, or 0.13%, S & P 500 e-minis () was down 4.75 points, or 0.16% and Nasdaq 100 e-minis () was 15 points or 0.19%.
Trading volumes could be thin at the end of the holiday week about markets Qualcomm Inc (O 🙂 fell 2.9% in premarket trade, with Intel Corp (O 🙂 and Advanced Micro Devices Inc. (O 🙂 also trading lower , after Samsung Electronics Co Ltd (KS 🙂 forecasts a strong fall in second-quarter operating profit due to a supply glut and rising tariffs affecting global demand for electronics.
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