US futures up in anticipation of labor market data

06.09.2019 / 14:55

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Wall Street is set to end the week with a positive note as investors begin to prepare in anticipation of labor market data. The data will also show how the US economy is coping with even more economic strain than the trade war.

The Nasdaq 100 futures are up 12 points, while the Dow Jones futures are up 76 points. The S & P500 is up about 7 points.

We expect the NFP report today at 3:30 pm with an estimated 160,000 jobs added against 164K in July. The data comes after previous ADP values, which came out higher than expected.

The markets also found support following news from China. The central bank has lowered its reserve requirements to an average of 900 billion yuan.

Cisco Systems is up 0.5% in premarkets, while JPMorgan is up 0.1%. DocuSign is up 23.8% after the company boosted its growth forecasts at the end of the year.

Facebook is down 0.8% and Netflix is down 0.1%.

For raw materials, oil has reversed and is down 1.5%. Gold is also down about 0.6% and the dollar index is up 0.1%.

Trader Martin Nikolov

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US futures up in anticipation of labor market data

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