U.S. Stock Futures Dip Ahead of Economic Data Release
After the Labor Day break, U.S. stock index futures dropped as investors awaited key economic data expected to influence the Federal Reserve's monetary policy. The August nonfarm payrolls report, crucial for market predictions, is set to be released Friday amidst expectations of an interest rate cut.
On Tuesday, U.S. stock index futures declined after the Labor Day holiday, as investors prepared for significant economic data expected later this week, potentially shaping the Federal Reserve's monetary policy approach.
The focus is on the August nonfarm payrolls report, due on Friday, following key private payrolls and job openings data. Markets anticipate a 90% likelihood of a 25-basis-point interest rate cut at the Federal Reserve's upcoming meeting, as indicated by the CME Group's FedWatch tool. This dovish sentiment follows July's weak job report.
Investors remain cautious, particularly with September traditionally witnessing market downturns, compounded by ongoing uncertainties in AI-driven trading and mixed quarterly earnings reports from AI-linked companies. Meanwhile, gold miners saw gains in premarket trading, with U.S.-listed shares of Harmony Gold, Kinross Gold, and Newmont rising.
(With inputs from agencies.)
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