U.S. stock futures pointed to modest gains on Friday morning, with Wall Street’s attention firmly fixed on the August jobs report that could determine how aggressively the Federal Reserve moves on interest rates.
Tech stocks led premarket action, powered by upbeat AI-driven earnings, while retail sentiment took a hit after Lululemon’s gloomy forecast.
Market benchmarks were mixed in early trading:
- S&P 500 futures: up between +0.13% and +0.21% depending on source data.
- Nasdaq-100 futures: leading with gains of +0.27% to +0.50%, boosted by strength in technology.
- Dow Jones futures: largely flat, showing a narrow range from –0.04% to +0.03%.
The move higher keeps the S&P 500 close to record levels, reflecting cautious optimism before the release of official employment data at 8:30 a.m. ET.
Takeaway: The Nasdaq-100 is leading gains on strong AI earnings momentum, while the Dow Jones is struggling to hold direction.
Why does today’s jobs report matter so much?
Markets have already priced in a 99% probability of a rate cut in September, but the scale and pace of future cuts hinge on how weak the labor market looks.
- Economists expect +75,000 jobs added in August, with the unemployment rate ticking up to 4.3%.
- Hourly wages are forecast to rise 0.3% from July and 3.7% year-over-year.
A softer number would confirm the cooling trend seen in recent jobless claims and private payroll data. That could push the Fed toward a faster and deeper cutting cycle. On the other hand, a surprise beat could temper expectations, leaving policymakers with less urgency to ease.
For everyday investors, this means volatility is likely around the data release — especially in interest-rate sensitive sectors like banking, housing, and tech.
Which stocks are moving the most today?
Premarket trading highlighted sharp contrasts across sectors:
- Broadcom (AVGO): jumped nearly +9% after delivering a strong AI chip revenue outlook. Investors cheered not only robust earnings but also CEO Hock Tan’s commitment to stay on for another five years, giving the stock fresh leadership certainty.
- DocuSign (DOCU): climbed more than +8% after beating quarterly earnings and raising guidance, signaling resilience in digital document demand.
- Lululemon (LULU): collapsed almost –18%, with management slashing its annual profit and sales forecast. Analysts cited weak product assortments, soft U.S. demand, and tariff-related headwinds as major drags on performance.
- Samsara (IOT) and Guidewire Software (GWRE): both surged double digits on upbeat earnings, showing that enterprise tech remains a pocket of growth.
Among the heavyweights, Amazon (+4.3%) and Netflix (+2.6%) are showing fresh buy signals, while Tesla, Nvidia, Palantir, Microsoft, Apple, Google, and AMD are posting more moderate but closely watched moves.
Meanwhile, a few names are sliding: Copart (–2%) and Phreesia (–13%) are under pressure despite broader strength in tech.
What’s happening beyond equities?
- Gold prices: Hovered around $3,609/oz, close to a record high reached earlier this week. The metal is up more than 33% year-to-date, benefiting from falling Treasury yields and investors hedging against Fed policy uncertainty.
- Trade policy: President Trump signed a U.S.–Japan trade pact imposing 15% tariffs on imports, even as the Supreme Court considers cases that could strike down large portions of his broader tariff regime.
- Fed politics: Trump’s nominee for Fed governor, Stephen Miran, told lawmakers he intends to retain his White House role if confirmed, underscoring political tensions around the central bank’s independence.
For investors
Friday’s session hinges on the August jobs report. Futures are pointing higher, but the data could swing momentum quickly.
Tech stocks, particularly Broadcom, are powering Nasdaq futures, while retail weakness from Lululemon serves as a stark reminder that tariffs and consumer demand remain real risks.
FAQs:
Q1. What are the top U.S. stock market futures doing today?
U.S. stock market futures are trading higher, with the Dow, S&P 500, and Nasdaq all in green ahead of the jobs report.
Q2. Which are the biggest premarket stock movers today?
Broadcom, Amazon, Netflix, DocuSign, and Samsara are gaining, while Lululemon is plunging on weak guidance.