US pre-open: Futures trade lower ahead of NFP data
By Iain Gilbert
Date: Friday 02 Dec 2022
(Sharecast News) - Wall Street futures were slightly lower ahead of the bell on Friday as market participants looked ahead to last month's all-important non-farm payrolls number.
As of 1230 GMT, Dow Jones futures were down 0.14%, while S&P 500 and Nasdaq-100 futures were down 0.10% and 0.17%, respectively.
The Dow closed 194.76 lower on Thursday, taking a bite out of serious gains recorded in the previous session.
Friday's primary focus will be the latest reading of the non-farm payrolls data at 1330 GMT, with analysts expecting to see a reading of 200,000 - down from the previous month's print of 216,000 - while the US unemployment rate was also expected to hold steady at 5.3%.
AvaTrade's Naeem Aslam said: "Today is the most crucial day for market players, as we will see the latest reading of the US NFP data. This economic reading commands the most attention among investors and traders as the economic data set the trading tone for today and influences it for the rest of the month.
"As always, the Fed will watch this data very closely, which is highly likely to affect their monetary policy, which will be announced in the coming weeks."
Elsewhere on the macro front, Federal Reserve Bank of Chicago president and chief executive Charles Evans will deliver a speech at 1515 GMT.
In the corporate space, Tesla traded slightly higher in pre-market trading after chief executive Elon Musk delivered the carmakers first batch of Semi trucks to PepsiCo on Thursday following years of delays.
Reporting by Iain Gilbert at Sharecast.com
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