US Stock Futures Hold Steady Ahead of Jobs Data
US stock futures are hovering near flatline on Friday as investors await the highly anticipated January nonfarm payrolls report. The S&P 500 (ES=F) and Nasdaq 100 (NQ=F) are showing minimal movement, while Dow Jones Industrial Average futures (YM=F) are also seeing little change.
Jobs Report in Focus
The upcoming jobs report is expected to reveal a slowdown in job creation, with economists forecasting 170,000 new positions added in January compared to 256,000 in December. However, analysts believe the report is unlikely to significantly impact the Federal Reserve's stance on interest rates, maintaining expectations of no rate cut until the central bank's June meeting.
Amazon Disappoints
Shares of Amazon (AMZN) fell around 3% in pre-market trading following the company's disappointing revenue outlook. This marks a trend among tech giants like Google (GOOG) and AMD (AMD), which also faced pullbacks due to concerns about high AI development spending.
European Stocks Poised for Weekly Gains
European stocks are on track for a seventh consecutive weekly win, with the pan-European Stoxx 600 (^STOXX) holding steady near record highs. Germany's DAX (^GDAXI) and Paris's CAC (^FCHI) are both in positive territory, while London's FTSE 100 (^FTSE) has dipped slightly.
Other Notable News
* Chinese tech stocks are surging in Hong Kong, potentially entering a technical bull market aided by DeepSeek's AI model.
* Amazon warns of potential capacity constraints in its cloud computing business despite significant investment plans.
* The Bank of Canada Governor highlights the impact of Trump's tariffs on Canada.
* Tesla's China-made EV sales declined 11.5% in January.