FX.co ★ US Futures Edge Higher as Rate Hike Bets Fade

US stock index futures inched higher on Monday, extending last session’s gains after softer US employment data eased pressure on the Federal Reserve to keep raising interest rates. Nasdaq 100 futures rose about 0.3%, while futures on the Dow Jones Industrial Average and the S&P 500 added roughly 0.1% each. On Friday, Wall Street advanced after data showed US employers created fewer jobs than expected in September and wage growth slowed. Markets are now assigning nearly an 80% chance that the Fed will leave interest rates unchanged at its upcoming meeting. Even so, traders remained wary of elevated Treasury yields, with the 10-year yield hovering near its highest level since 2002. Investors are looking ahead to a new slate of economic indicators this week for further guidance, including the ISM services index, minutes from the Fed’s September meeting and the University of Michigan’s consumer sentiment survey. Corporate earnings are also due from Constellation Brands, Levi Strauss, PepsiCo, Delta Air Lines and other major companies.