US stocks are set for a jittery start on Friday as traders look to the November nonfarm payrolls report for trading clues. With the federal reserve As it signals its intent to potentially switch, any incoming data is likely to trigger volatility in the market.
On Thursday, the major US moving averages closed mixed as traders reacted to economic reports showing a slight easing of inflationary pressures and slowdown in economic activity. Some of the weakness could be attributed to profit-taking after Wednesday’s strong rally that took course S&P 500 Index and the Nasdaq Composite Indexes at highest level since mid-September.
Financials and real estate stocks were among the hardest-hit sectors on Thursday, while technology stocks gained ground.
| index | Performance (+/-) | value | |
|---|---|---|---|
| Nasdaq Composite | +0.13% | 11,482.45 | |
| S&P 500 Index | -0.09% | 4,076.57 | |
| Dow Industrials | -0.56% | 34.395.01 |
Here’s an inside look at index futures trading:
| index | Performance (+/-) | |
|---|---|---|
| Nasdaq 100 futures | -0.02% | |
| S&P 500 futures | -0.06% | |
| Dow futures | -0.05% | |
| R2K futures | +0.41% |
In premarket trading on Friday, Dec SPDR S&P 500 ETF Trust SPY fell 0.06% to $407.13 and the Invesco QQQ Trust QQQ down 0.11% to $293.40 Benzinga Pro data.
See also: How to invest in startups
Spotlight On Jobs Report:
That Bureau of Labor Statistics is scheduled to release its November Non-Farm Payrolls or NFP report at 8:30 am EST. According to data compiled by Benzinga Pro, economists on average expect the economy to have added 200,000 jobs over the month. This marks a slowdown from the pace of hiring in October, when the economy added 261,000 jobs.
The November estimate, while pointing to a slowdown, is still above a sustainable pace, economists at Credit Suisse said…
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