Update: Stock futures pare gains after disappointing Friday jobs report -- MarketWatch
02 Junho 2017 - 5:59PM
Dow Jones News
U.S. stock futures cut earlier gains on Friday after a closely
watched employment reading from the Labor Department came in weaker
than expected. The Friday jobs report showed that 138,000 jobs were
created in May, compared with an average estimate of economists
polled by MarketWatch for 185,000 jobs. Futures for the Dow Jones
Industrial Average , which had risen by as many as 85 points, were
only up 21 points, or 0.2% at 21,153, futures for the S&P 500
index were trading flat at 2,430, while futures for the Nasdaq-100
showed a gain of 11.25 points, or 0.1%, at 5,833. One bright spot
in the day's report, the unemployment rate fell to 4.3%. However,
market participants had been expecting Friday's labor-market
figures to help confirm continued strength in employment after a
private-sector reading for May from the Automatic Data Processing
Inc. (ADP) came in better-than-expected on Thursday, showing a gain
of 253,000. On Thursday, the Dow , the S&P 500 and the Nasdaq
Composite Index registered all-time highs on the back of optimism
over the private-sector report. Wall Street is watching the
employment report closely as the data help the Federal Reserve
determine the pace of monetary-policy tightening, with the central
bank expected to lift benchmark interest rates mid-July.
-Mark DeCambre
For more from MarketWatch: http://www.marketwatch.com/newsviewer
(END) Dow Jones Newswires
June 02, 2017 16:44 ET (20:44 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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