{"id":34991,"date":"2022-06-03T12:37:01","date_gmt":"2022-06-03T12:37:01","guid":{"rendered":"https:\/\/harchi90.com\/stock-futures-trade-cautiously-ahead-of-monthly-jobs-report\/"},"modified":"2022-06-03T12:37:01","modified_gmt":"2022-06-03T12:37:01","slug":"stock-futures-trade-cautiously-ahead-of-monthly-jobs-report","status":"publish","type":"post","link":"https:\/\/harchi90.com\/stock-futures-trade-cautiously-ahead-of-monthly-jobs-report\/","title":{"rendered":"Stock futures trade cautiously ahead of monthly jobs report"},"content":{"rendered":"
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Main Street Asset Management CFO Erin Gibbs, Hennion & Walsh Asset Management President Kevin Mahn and Thrasher Analytics founder Andrew Thrasher discuss the market’s reaction to the Federal Reserve’s handling of inflation and state of the economy.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

US equity futures traded lower Friday morning ahead of the release of the most anticipated economic report of the month.<\/p>\n

The major futures indexes suggest a decline of 0.2% when the trading session on Wall Street gets underway.<\/p>\n

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Oil prices were trading lower on Friday, after OPEC countries and allies decided to boost output that could make up for lost supply from Russia.<\/p>\n

US West Texas Intermediate (WTI) crude futures traded around $ 116 a barrel. Brent crude was around $ 117 a barrel.<\/p>\n

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In this photo provided by the New York Stock Exchange, traders gather at a post on the floor.<\/span> ((Courtney Crow \/ New York Stock Exchange via AP) \/ AP Newsroom)<\/span><\/p>\n<\/div>\n<\/div>\n

On Friday morning, the Labor Department is expected to say the US economy added 325,000 new nonfarm jobs in May. That’s down from the 428,000 in April. The unemployment rate is expected to slip to 3.5%, down from 3.6% in April. Look for hourly earnings to rise 0.4% from April and to jump 5.2% from a year ago. <\/p>\n

MAY JOBS REPORT EXPECTED TO SHOW HIRING WANED AS WHITE HOUSE WARNED<\/strong><\/p>\n

On Thursday, payroll processor ADP reported that hiring by private US companies rose just 128,000 in May. That’s well below the 300,000 hires economists expected.<\/p>\n

The employment report isn’t the only piece of economic data being released. <\/p>\n

The Institute for Supply Management releases its non-manufacturing PMI for May. This gauge of services sector activity is expected to edge down to 56.4, the lowest since February 2021, after slipping unexpectedly to 57.1 in April. A reading above 50 indicates expansion.<\/p>\n

In other news: Frontier Airlines will pay Spirit<\/u> Airlines a breakup fee of $ 250 million if regulators block a merger between the two carriers. Frontier is trying to gain investor support for its merger and fend off a hostile bid from rival JetBlue<\/u> Airways.<\/p>\n

Lululemon shares rose 2% in after-hours trading after the athletic apparel retailer raised its full-year revenue forecast. Sales were better than Wall Street expected. <\/p>\n

In Asia, Japan’s benchmark Nikkei 225 jumped 1.2% Trading was closed in China for a national holiday. <\/p>\n

Bitcoin traded around $ 30,000.<\/p>\n