U.S. stock futures mixed as jobs data tests equity momentum

  • U.S. stock futures were mixed before jobs data that could influence equity momentum.
  • 56,000 nonfarm jobs were expected to be added in August after July's 23,000 decline.
  • Investors will receive CPI and PPI inflation readings from the Labor Department next week.

U.S. stock futures were mixed on Friday, with Nasdaq 100 futures up 0.42% and S&P 500 futures 0.06% higher, while Dow futures slipped 0.07%. Investors awaited August jobs data that could test the recent recovery in equities and influence expectations for the Federal Reserve's rate outlook. Traders priced a nearly 50% chance of a rate increase, down from 63% before Federal Reserve Governor Christopher Waller said he would support holding rates steady if inflationary pressures are easing. Nonfarm payrolls are expected to have increased by 56,000 in August after falling by 23,000 in July, according to a Reuters survey. Lululemon Athletica fell 17.67% in premarket trading after cutting its full-year profit and revenue forecasts, while Adobe dropped 3.18% after announcing that CEO Shantanu Narayen would hand leadership to insider Anil Chakravarthy. Investors also continued to assess September's historical seasonal weakness and are due to receive CPI and PPI inflation data from the Labor Department next week.

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