U.S. stock index futures fell on Friday, erasing some gains following a four-day winning streak on Wall Street, as investors awaited the release of the latest jobs data.
Futures for the Dow Jones Industrials skidded 95 points, or 0.3%, early Friday to 29,233.
Futures for the S&P 500 dipped 8.25 points, or 0.3%, at 3,337.
Futures for the NASDAQ Composite fell 28.5 points, or 0.3%, to 9,427.
Stocks were up sharply for the week entering Friday as strong earnings and economic data outweighed worries over the coronavirus’ economic impact.
The S&P 500 was up 3.7% week to date through Thursday’s close, and was on pace for its best weekly performance since early June. The
Dow is up 4% for the week while the NASDAQ has gained 4.6%.
Honda Motor and Construction Partners are among the firms presenting earnings today.
The recent rally in U.S. markets lost steam on Friday amid concerns about the potential economic fallout of China’s fast-spreading coronavirus. China’s National Health Commission on Friday confirmed 31,131 cases of the deadly pneumonia-like virus in the country, with 636 deaths.
Economically speaking, the U.S. Labor Department brought out non-farm payrolls for January which smashed expectations, the economy taking on 225,000 jobs. Even so, the jobless rate ticked higher to 3.6%. Expert predictions were for a rise of 158,000.
Overseas, in Japan, the Nikkei 225 fell back 0.2% Friday, while in Hong Kong, the Hang Seng slid 0.3%
Oil prices were static at $50.75 U.S. a barrel.
Gold prices improved $7.50 to $1,570.30 U.S. an ounce.