US Stock Futures Flat Ahead of Jobs Report, Amazon Disappoints
US stock futures hovered near the flat line on Friday as investors awaited the highly anticipated January nonfarm payrolls report.
Market Movement:
* S&P 500 futures (ES=F): +0.03%
* Nasdaq 100 futures (NQ=F): -0.01%
* Dow Jones Industrial Average futures (YM=F): +0.10%
Jobs Report Preview:
The Labor Department's nonfarm payrolls data, due at 8:30 a.m. ET, is expected to show an addition of 170,000 jobs, down from 256,000 in December. While a slowing in job creation is anticipated, economists generally do not expect the report to significantly alter the Federal Reserve's interest rate stance.
Amazon Earnings:
Amazon's (AMZN) earnings fell short of expectations, echoing disappointing revenue outlooks from other tech giants. Shares in the company were down around 4% in pre-market trading.
Trump's Policies:
Investors remain cautious about President Donald Trump's ongoing trade war and its potential impact on inflation. Trump has also proposed closing a tax deduction loophole for hedge fund managers, which has drawn mixed reactions.
Other Notable Developments:
* Chinese tech stocks in Hong Kong are entering a bull market amid interest in DeepSeek's AI model.
* Amazon forecasts challenges in meeting demand for AI services in 2025 despite planned investments.
* The University of Michigan consumer sentiment survey is scheduled for release today.