On Thursday, US stock futures fell, with tech stocks leading the Nasdaq lower than other indices ahead of Friday’s much-anticipated jobs report.
Futures on the S&P 500 (GSPC) fell 0.16% ahead of the market, while the Dow Jones Industrial Average (DJI) fell below the zero line. The Nasdaq Composite (IXIC), which is heavily weighted toward technology, fell 0.4%.
“Volumes are expected to remain subdued as we approach the holiday weekend,” JPMorgan’s market intelligence team in the United States said in a note. On Good Friday, April 7th, both the equity and bond markets close.
The returns on government bonds were mixed. Yields on the 10-year note were unchanged on Thursday morning, while yields on the interest-rate-sensitive 2-year note fell to 3.73%.
Gold futures (GC=F) are currently shining on the commodities front after the metalCrude Oil (CL=F) is still hovering around $80 per barrel, despite big gains earlier in the week. At the same time, gas prices in the United States have reached a five-month high, topping $3.50 per gallon, according to AAA data. The jump comes as Saudi Arabia decided to cut oil production.
Meanwhile, US jobless claims increased by 228,000 for the week ending April 1, according to Labor Department data, exceeding the consensus estimate of 200,000. The previous week’s total was revised to 246k due to updated government seasonal factors. Current claims were also revised higher, from 1.689 million to 1.823 million for the week ending March 18th.
This comes after ADP, a private payroll firm, reported on Wednesday that employers added 145,000 jobs.
