Traders work at the New York Stock Exchange (NYSE) in New York City, U.S., on September 26, 2023.
Brendan Mcdermid | Reuters
U.S. stock futures fell slightly early Friday as traders awaited Friday's jobs report.
Dow Jones Industrial Average Futures fell 31 points, or 0.11%. S&P 500 Futures and Nasdaq 100 Futures they fell 0.13% and 0.05%, respectively.
Investors are coming off a quiet session on Thursday. The action of 30 Dow was lower by about 10 points, or 0.03%. He S&P 500 and the Nasdaq Composite They decreased by 0.1%, each.
These movements occur while investors waited for the September employment report. Economists surveyed by Dow Jones expect the U.S. economy to have added 170,000 jobs last month, up from 187,000 the previous month. The unemployment rate is expected to have fallen to 3.7%, below the 3.8% level of the previous reading.
Many market participants hope that a somewhat weaker jobs report will dampen the fever in bond yields, which have risen sharply and weighed on stocks. The 10-year US Treasury yield hit a 16-year high this week, rising as high as 4.884%. The last time it was above 4.7%.
US 10-year Treasury
"There is volatility in the bond market," Joe Terranova, senior managing director at Virtus Investment Partners, said on "CNBC" Thursday.Closing bell"So one way or another, tomorrow's jobs report will have a significant impact on the direction the market will move. Because right now we're moving into a very volatile nature in fixed income, and that's an uncomfortable place for investors."
The Dow Jones turned negative for the year this week and is headed for its third consecutive week of losses. As of Thursday's close, the 30-share index is down 1.16%. The S&P 500 is on track for its fifth consecutive week of losses, down 0.7%. The Nasdaq is practically flat.
