U.S. equity futures were little changed on Friday, mirroring modest moves in energy and bond markets ahead of the release of the July employment report. Futures tied to the S&P 500, Dow Jones Industrial Average, and Nasdaq 100 traded slightly higher.
Consensus forecasts point to an 80,000 increase in non-farm payrolls and an unchanged unemployment rate, signaling continued labor-market resilience and reinforcing expectations that the Federal Reserve could raise interest rates at its next meeting.
While the jobs report remains a key data point, recent moves in energy prices have exerted a greater influence on policy expectations. Rising inflation concerns tied to higher energy costs have prompted a series of more hawkish comments from FOMC officials.
SpaceX extended yesterday’s rebound even as $101 billion worth of its shares came off post-IPO lockup restrictions. Elsewhere, Sandisk and Western Digital traded sharply higher in premarket action following yesterday’s earnings-driven selloff, underscoring ongoing volatility in the chip sector. Berkshire Hathaway shares were little changed ahead of the company’s earnings release tomorrow.