Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 06, 2024 in New York City.
Spencer Platt | Getty Images
S&P 500 futures rose Friday as traders awaited the release of February’s jobs report.
Futures linked to the broad market index rose 0.1%, while Dow Jones Industrial Average futures were lower by 37 points, or 0.1%. Nasdaq 100 futures were flat.
Economists polled by Dow Jones anticipate growth of 198,000 and an unemployment rate of 3.7% — signs of a slowing job market, but one that’s still relatively strong.
“Most important in [Friday’s] report is information about wages and if they are climbing too quickly,” said Gina Bolvin, president of Bolvin Wealth Management Group, said on Thursday. “If they are moving up too fast, companies will pass this this cost to the end user, which is inflationary.”
Semiconductor manufacturer Broadcom slipped 2% after issuing full-year revenue guidance that was in line with analysts’ expectations. Costco shares dropped 4.8% after the retailer posted quarterly revenue that missed the Street’s estimates.
Stocks climbed during Thursday’s regular session, with tech lifting the S&P 500 and the Nasdaq Composite to all-time highs. The broad market index gained 1% and closed at a new record, while the tech-heavy Nasdaq added 1.5%. The 30-stock Dow ticked higher by 0.3%.
As the week draws to a close, the S&P 500 is toting a gain of 0.4% through Thursday, while the Dow is down by nearly 0.8%. The Nasdaq is off slightly week to date, with a 0.01% decline.