FX.co ★ US Futures Edge Lower Ahead of Jobs Report

US stock futures slipped on Thursday as investors stayed cautious ahead of the June jobs report, which is expected to offer fresh insight into labor market conditions and the Federal Reserve’s interest rate outlook. Data released on Wednesday showed that private-sector hiring slowed more than anticipated in the previous month. Fed Chair Kevin Warsh also noted that inflation expectations have eased over the past month, while reiterating the central bank’s commitment to restoring price stability.

In regular trading on Wednesday, the tech-heavy Nasdaq Composite fell 0.66% as investors reassessed the sustainability of the AI-driven rally. The S&P 500 and the Dow Jones also declined, by 0.22% and 0.03%, respectively. Chipmakers and memory stocks led the retreat, with sharp losses from Micron Technology (-10.6%), Sandisk Corp (-10.6%), AMD (-6.9%), Intel (-9%), and Applied Materials (-10%).