MARKET SNAPSHOT: U.S. Stocks: Futures Fall, Weekly Drop In Sight As Jobs Report Looms
September 04 2015 - 6:16AM
Dow Jones News
By Victor Reklaitis, MarketWatch
Economists expect U.S. added 213,000 jobs
U.S. stocks on Friday looked on track to fall at the open and
end lower for the week, but an eagerly awaited jobs report still
could shake up trading before the holiday weekend.
Stock futures lost ground, with S&P 500 futures down 15.35
points, or 0.8%, to 1,930.75. Dow Jones Industrial Average futures
dropped 141 points, or 0.9%, to 16,207, while those for the Nasdaq
100 declined by 34.25 points, or 0.8%, to 4,195.25.
On Thursday, the S&P 500 and Dow closed higher
(http://www.marketwatch.com/story/us-stocks-set-for-upbeat-day-ahead-of-claims-data-ecb-meeting-2015-09-03)
for a second day in a row, but gave up most of their gains by the
market's close.
The monthly jobs report is widely seen as the last notable
reading on the U.S. economy's health before the Federal Reserve
decides whether to raise interest rates at its two-day meeting. A
weaker-than-expected reading could trigger more bets by traders
that the Fed won't hike rates at the meeting, which starts Sept.
16.
"Our house call for a September liftoff will be reviewed after
the August employment report," said Torsten Slok, chief
international economist at Deutsche Bank Securities, in a note late
Thursday.
Also see: Panel of ex-Fed officials say no rate hike in
September
(http://www.marketwatch.com/story/panel-of-ex-fed-officials-say-no-rate-hike-will-come-at-september-meeting-2015-09-03)
The nonfarm-payrolls report and unemployment rate for August are
scheduled for release at 8:30 a.m. Eastern Time. Economists polled
by MarketWatch expect the U.S. gained 213,000 jobs last month as
the unemployment rate dipped to 5.2%. Mark Zandi, chief economist
at Moody's Analytics, has argued the Fed won't decide to raise
interest rates
(http://www.marketwatch.com/story/fed-wont-raise-rates-if-august-jobs-gains-below-200000-moodys-zandi-2015-09-03)
this month if the August job gains come in below 200,000.
Read: What to watch in the critical August jobs report
(http://www.marketwatch.com/story/what-to-watch-in-the-critical-august-jobs-report-2015-09-03)
Other markets: Japan's Nikkei dropped and notched its biggest
weekly drop since April 2014
(http://www.marketwatch.com/story/nikkei-falls-to-its-lowest-level-since-february-2015-09-04),
while trading in China was closed for a national holiday.
European stocks
(http://www.marketwatch.com/story/european-stocks-set-for-weekly-loss-with-key-us-jobs-report-ahead-2015-09-04)
lost ground, and crude-oil prices
(http://www.marketwatch.com/story/oil-prices-fall-as-investors-wait-for-key-us-jobs-report-2015-09-04)
also retreated. The dollar pulled back, while gold was little
changed.
Trading in U.S. markets will be closed Monday for the Labor Day
holiday. Check out: When do markets close for Labor Day
(http://www.marketwatch.com/story/when-do-markets-close-for-labor-day-2015-09-03)
Movers and shakers: Shares in Netflix Inc.(NFLX) fell in
premarket action, putting the streaming-video company on track for
its sixth down session in a row. The slump has come as investors
fret about increasing competition
(http://www.marketwatch.com/story/netflixs-stock-drops-again-heads-toward-a-fifth-straight-loss-2015-09-03).
Late Thursday, Amazon.com Inc.(AMZN) signaled it is eyeing more
streaming options by announcing that it plans to buy video
reformatter Elemental Technologies Inc
(http://www.marketwatch.com/story/amazon-to-buy-video-reformatter-elemental-technologies-2015-09-03-161035650).
Shares in Twitter Inc.(TWTR) could make moves, as the
social-media company is expected to name a new CEO
(http://www.marketwatch.com/story/hey-twitter-is-jack-dorsey-going-to-be-ceo-or-what-2015-09-03),
perhaps as early as Friday.
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(END) Dow Jones Newswires
September 04, 2015 06:01 ET (10:01 GMT)
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