Stock futures were largely unchanged early Friday as investors awaited the release of January’s jobs report, a key indicator for gauging economic strength and potential shifts in Federal Reserve policy.
Dow Jones Industrial Average futures edged down 34 points, or 0.08%, while S&P 500 and Nasdaq 100 futures traded near the flatline.
In extended trading, Amazon shares fell 4% despite beating fourth-quarter revenue and earnings estimates. Investor sentiment was dampened by Amazon’s forecast of 5% to 9% revenue growth for the first quarter, marking the company’s weakest projected growth on record.
During Thursday’s trading session, the S&P 500 rose 0.4%, while the Nasdaq Composite added 0.5%, logging their third consecutive winning day. The Dow Jones Industrial Average underperformed, dipping by 0.3%.
For the week, all three major indexes were on track for modest gains. The S&P 500 was set for a 0.7% advance, with the Nasdaq on pace for a 0.8% increase. The Dow lagged slightly, with a week-to-date gain of 0.5%.
Market recovery followed a dip earlier in the week prompted by renewed tariff concerns after President Donald Trump announced a 10% tariff on Chinese imports. However, tariffs on Canada and Mexico were temporarily suspended.
Traders are now focused on the January nonfarm payrolls report, scheduled for release at 8:30 a.m. ET. Economists surveyed by Dow Jones anticipate 169,000 new jobs for the month, a decrease from the 256,000 jobs added in December. The unemployment rate is expected to hold steady at 4.1%.
Barbara Doran, CEO of BD8 Capital Partners, noted that market volatility could persist due to geopolitical and economic factors.
“There’s going to be added volatility in the market, particularly with valuations where they are,” Doran said on CNBC’s Closing Bell: Overtime.
Other Market Developments
- Hershey’s Upgrade: Citi upgraded Hershey to a neutral rating from sell, following better-than-expected fourth-quarter earnings. Despite ongoing concerns over high cocoa prices, Citi sees the company’s 2025 guidance as a reasonable growth foundation.
- Investor Sentiment: Bearishness among individual investors rose to a 15-month high, with 42.9% expressing pessimism about US stocks over the next six months, according to an American Association of Individual Investors survey.
CNBC, Investor’s Business Daily, and Bloomberg contributed to this report.
