FX.co ★ US Futures Rise to Record After Jobs Report

US equity futures gained momentum on Friday following increased clarity surrounding potential rate reductions by the Federal Reserve within this year, prompted by the release of the December employment report. The contracts for the major indices rose by 0.5%, propelling the S&P 500 and the Dow to new record highs. Although job growth in the US fell short of expectations, the unemployment rate experienced a notable decline, highlighting a labor market characterized by low levels of hiring and firing, which supports the projection of decreased interest rates. In the technology sector, stock prices showed mixed results after a turbulent week, with Alphabet and Nvidia poised for gains. However, Meta's futures declined after finalizing nuclear power arrangements for their datacenters, marking the latest in a series of investments in AI that have drawn scrutiny towards the industry. Meanwhile, Chevron and major entities like Valero saw increases as the market continued to evaluate the implications of uncertain Venezuelan oil imports, with President Trump signaling increased trade despite companies' reluctance to operate within the nation.