US Stock Futures Subdued Ahead of Jobs Report, Amazon Declines
US stock futures were largely flat on Friday as investors refrained from significant bets before the crucial January jobs report. Amazon.com shares were under pressure due to weak cloud computing results and lower-than-expected guidance.
Jobs Report
Economists predict that US job growth slowed in January, with an estimated 170,000 jobs added. The payrolls data from April to December will likely be revised to account for new information and seasonal factors.
Fed Outlook
The jobs report is unlikely to indicate a slowdown that would necessitate a change in the Federal Reserve's policy. Analysts anticipate a pause on interest rates in March, with a cut possible in June.
Amazon Disappoints
Amazon.com shares fell 3% premarket due to weakness in its cloud computing division, Amazon Web Services, and disappointing Q1 revenue and profit forecasts.
Market Movement
At 04:30 ET, Dow E-minis were unchanged, S&P 500 E-minis lost 0.09%, and Nasdaq 100 E-minis declined 0.13%. The week started negative after President Trump's tariff announcement, but strong earnings and optimism about a potential China-US trade deal have spurred gains.
Earnings Reports
Over 76% of S&P 500 companies have reported earnings so far, with most exceeding analyst expectations.
Other Movers
* Pinterest surged 20.3% on optimistic Q1 revenue guidance.
* Elf Beauty plummeted 26.3% after cutting its annual sales and profit forecasts.
* Expedia gained 9.1% on strong Q4 results.