Futures tracking the Nasdaq 100 and S&P 500 rose on Friday ahead of U.S. jobs data that could challenge the recent recovery in equities. Traders priced a nearly 50% chance of a Federal Reserve rate increase, down from 63% before Federal Reserve Governor Christopher Waller said he would support keeping rates steady if inflationary pressures were easing. The CME FedWatch tool provided the estimates. At 4:24 a.m. ET, Dow E-minis were down 0.07%, while S&P 500 E-minis and Nasdaq 100 E-minis rose 0.06% and 0.42%, respectively. August nonfarm payrolls were expected to increase by 56,000 after falling by 23,000 in July, when the economy unexpectedly shed jobs and earlier gains for the previous two months were revised sharply lower. Analysts also focused on Fed Chair Kevin Warsh’s emphasis on inflation and whether labor-market trends could affect the central bank’s rate outlook. Felix Vezina-Poirier, chief strategist at BCA Research, said Waller’s comments carried weight because they were the final major Fed commentary before the September meeting blackout and because Waller had often anticipated both rate-hiking and rate-cutting cycles. Lululemon Athletica dropped 17.67% in premarket trading after cutting its full-year profit and revenue forecasts, while Adobe fell 3.18% after saying longtime CEO Shantanu Narayen would hand over leadership to insider Anil Chakravarthy. September’s historical weakness also remained a topic as investors entered the Labor Day weekend; most of the weakness typically occurs in the second half, when returns average worse than 1%, according to Melissa Brown, global head of investment decision research at SimCorp. The Labor Department is due to release CPI and PPI readings next week.