US equity futures hold gains as dovish Fed signals ease hike concerns

  • US equity futures held the prior session’s rebound as dovish Federal Reserve signals eased rate-hike concerns.
  • 4.1% unemployment is expected in the incoming jobs report, alongside a payroll rebound.
  • Lam Research, Applied Materials and Sandisk rose close to 3% premarket Friday.

US equity futures were little changed Friday, retaining the previous session’s rebound as dovish comments from Federal Reserve officials reduced concerns about a potential rate hike. Contracts tied to the S&P 500, Dow and Nasdaq 100 hovered near the flatline. The incoming jobs report is expected to show unemployment unchanged at 4.1% alongside a rebound in payrolls, consistent with recent FOMC (Federal Open Market Committee) signals that the labor market is at full employment. Federal Reserve Governor Waller previously said a rate increase would not be necessary if underlying inflation gauges continue to slow. Chip stocks led premarket gains after lagging the broader market during the week, with Lam Research, Applied Materials and Sandisk each rising close to 3%. Marvell, Micron, Intel and Nvidia gained more than 1% amid optimism surrounding OpenAI’s new GPT model.

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