US futures In the red before NFP

US Dollar futures are down after July 4 and the last day of the trading week. Market participants adjust to the monthly labor market report. The results are expected to confirm the Fed's intention to cut interest rates this month.

NASDAQ's futures are down 14 points, DOW is down 29 points, and the S & P500 is down 4 points. We expect the NFP, the unemployment rate and the hourly pay. The first report predicts an increase of 160,000 jobs, with 75,000 in May. Markets have already appreciated a cut of already 25 basis points in interest rates at the end of July, with the likelihood of three interest rate cuts by the end of the year 60%.

We also have to note that because of the political strain on the Fed by Trump's, the Central Bank is unlikely to leave rates at its current levels for too long.

The semiconductor sector in the pre-market session has the biggest difficulty to emerge to the surface due to Samsung's worse estimates of Q2 profit. Micron Technology, Qualcomm and Nvidia are the most painful.

Tesla is up by about 0.3% and BWM CEO Harald Kruger announces he will resign.

Amazon is also in the spotlight today as the US Consumer Protection Commission has delayed the Amazon integration process with the Deliveroo meat supplier.

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