Stock market today: US futures edge higher as investors gear up for key jobs report

Published On Oct 4, 2024, 7:26 AM

US stock futures are rising as investors prepare for a significant jobs report expected today. The futures for the S&P 500, Dow Jones, and Nasdaq 100 all saw modest increases. The jobs report, which is anticipated to show a rise in nonfarm payrolls by 150,000, is crucial as it may influence Federal Reserve decisions on interest rates. Current conditions indicate signs of a cooling labor market but are not expected to lead to drastic changes. The markets, despite recent challenges like geopolitical tensions and strikes, have shown resilience and remain near record highs. Oil prices are also on the rise due to increased Middle Eastern tensions.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

XLE View XLE chart on TradingView

Positive

Investors should consider positions in oil-related assets due to rising oil prices amid geopolitical tensions. The ongoing crisis in the Middle East has the potential to further increase oil prices, suggesting a bullish scenario for oil stocks.

SPY View SPY chart on TradingView

Positive

With the increase in US stock futures and the possibility of interest rates decreasing, there could be potential for stocks in the S&P 500 to perform well if the jobs report indicates stable economic conditions.

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