US stock futures were trading within a tight range during Thursday’s evening deals, following a mixed session for major benchmark averages as investors brace for key employment data due later in Friday’s trade.
The Dow Jones Industrial Average futures were up 0.2% at 33,274, while the S&P 500 futures were up 0.1% at 4,131.50. The Nasdaq 100 futures were also up 0.1% at 12,600.50.
The mixed session on Thursday came as investors weighed a number of factors, including the ongoing war in Ukraine, high inflation, and rising interest rates. Investors are also looking ahead to the release of the September non-farm payrolls report on Friday, which is expected to show that the US economy added 200,000 jobs last month.
The tight trading range in stock futures on Thursday evening suggests that investors are cautious ahead of the jobs report. A strong jobs report could reinforce expectations that the Federal Reserve will continue to raise interest rates aggressively in an effort to combat inflation. This could lead to a sell-off in stocks, as higher interest rates make stocks less attractive to investors.
However, a weaker jobs report could raise concerns about a recession and lead to a rally in stocks. Investors would likely view a weaker jobs report as a sign that the Fed may be more likely to slow the pace of its interest rate hikes.
Overall, investors are likely to remain cautious until the release of the jobs report on Friday. The direction of the stock market in the near term will likely depend on the outcome of the report.