© Reuters An expert trader works inside a booth on the floor of the New York Stock Exchange (NYSE), October 6, 2021 in New York City, USA. Reuters / Brendon McDermide
By Goddess Jain
(Reuters) – US stock index futures were flat on Friday ahead of September job data that could likely lead to the withdrawal of the Federal Reserve’s policy support later this year.
Wall Street rallied Thursday on mega-cap technology stocks as the U.S. Senate approved a federal government law to temporarily raise the .4 28.4 trillion debt limit, avoiding the risk of becoming a historic defaulter this month.
This week, volatility in the equity market was a major concern among investors due to uncertainty over the extent of the concerns among investors and high inflation in U.S. Treasury yields.
Nevertheless, better-than-expected private job data and weekly unemployment claims reports reinforce positive feedback on an economic recovery, setting three key U.S. indicators for weekly gains.
The non-farm payrolls report, closely monitored by the Department of Labor, which will be shown on ET at 8:30 a.m., showed 500,000 jobs increased in September as the summer wave of Kovid-1 infections began to slow, prompting the Fed to buy its monthly bonds. Positioning to start the scale. .
Jeffrey Haley, a senior market analyst at OANDA, said: “All roads lead to unpaid unpaid data that will help the market decide whether the Fed presses a deal for the start of December.”
“I don’t believe the markets have set the price of the Fed taper and its impact is still to a large degree. Even a weak number is likely to be inevitable for another month.”
High-growth stocks Apple Inc. (NASDAQ :), Google-Parent Alphabet (NASDAQ :), Amazon.com Inc (NASDAQ 🙂 and Tesla (NASDAQ 🙂 have lagged behind in pre-market trading after sharp gains in the previous session.
Including power agencies Chevron Corporation (NYSE 🙂 and Exxon Mobil Corporate (NYSE 🙂 gained about 0.8% and 0.8% of its crude purchase price, while major U.S. donors also hit 10-year benchmark yields, the highest level since June 4. [US/][O/R]
At 06:29 ET, it was down 45 points or 0.13%, 3.25 points or 0.07%, and 2.75 points or 0.02%.
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