US Futures Steady Ahead of Key Jobs Report

US stock futures were little changed on Friday as investors awaited the closely watched July jobs report for fresh signals on labor market conditions and the potential path of Federal Reserve monetary policy. In corporate news, Airbnb jumped more than 8% in extended trading after reporting stronger-than-expected revenue and earnings, while Cloudflare soared 16% on an upbeat full-year and current-quarter outlook. Meanwhile, DraftKings slipped 3% after falling short of revenue estimates. During Thursday’s regular session, the Dow declined 0.85%, the S&P 500 eased 0.18%, and the Nasdaq Composite dipped 0.06%. Eight of the 11 S&P sectors ended in negative territory, with industrials, real estate, and materials posting the steepest losses. The pullback came as a rebound in oil prices reignited concerns that the Fed could raise interest rates as soon as next month.

The Dow Jones Index decreased 479 points or 0.88 percent on Thursday to close at 53870 points. The decline was led by Salesforce (-4.02%), Boeing (-3.33%) and Goldman Sachs (-2.59%). On the upside, the strongest performers were Walt Disney (2.78%), Microsoft (2.57%) and Chevron (1.37%).

US stock indices closed lower on Thursday as a rebound in energy prices revived concerns that the Fed could raise interest rates next month. The S&P 500 fell 0.2%, the Nasdaq 100 lost 0.4%, and the Dow shed 464 points. Yields rose alongside wholesale fuel prices as investors reassessed the prospects for restoring shipping through Hormuz. Reports indicated that Iran plans to bar US and Israeli vessels from the waterway and require compensation from countries it considers hostile before allowing passage. Hawkish comments from FOMC members were reinforced by reports that Fed Chair Warsh is willing to raise rates if inflation rises further. Financial stocks weakened, with JPMorgan down 0.8% and Morgan Stanley losing 2.1%. Credit-sensitive hyperscalers were mostly lower, with Alphabet down 1.3%. Western Digital sank 13% after a disappointing guidance. Sandisk lost 6.8% as its results missed expectations. SpaceX rose 6.1% as $101 billion worth of shares exited their post-IPO lockup.