Stock futures edge lower as traders await August payrolls report

  • Traders awaited August's payrolls report as stock futures edged lower Thursday evening.
  • 53,000 nonfarm payrolls are expected for August, versus July's 23,000-job loss.
  • The Dow, S&P 500 and Nasdaq Composite all gained during Thursday's regular session.

Stock futures were little changed Thursday evening as traders prepared for August's payrolls report, due Friday morning. Dow futures fell 16 points, or 0.03%, while S&P 500 futures declined 0.06% and Nasdaq-100 futures lost 0.1%. The moves followed a strong regular session in which the Dow rose more than 600 points, or 1.2%, for its best performance since Aug. 4; the S&P 500 gained more than 1% and the Nasdaq Composite advanced 1.4%. Treasury yields pulled back after Federal Reserve Governor Christopher Waller said he would be "inclined" to support keeping the central bank's target rate range at 3.5% to 3.75% at its Sept. 15-16 meeting. Economists surveyed by Dow Jones expect August nonfarm payrolls to show 53,000 jobs were added and the unemployment rate to reach 4.1%, compared with a loss of 23,000 jobs in July. Interactive Brokers senior economist José Torres said next week's inflation data, including the consumer price index and producer price index, will also be pivotal, while continued employment declines could prompt the Federal Reserve to give greater weight to the labor side of its mandate when setting policy. The S&P 500 is on pace for a 0.5% weekly gain, the Nasdaq for a 0.7% advance and the Dow for a 0.2% increase.

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Stock futures edge lower as traders await August payrolls report - CoinPost Terminal