Dow Futtures Recover on Jobs Numbers - InvestingChannel

Dow Futtures Recover on Jobs Numbers



U.S. stock futures indicated a mixed open on Friday as tech shares struggled after a big one-day selloff.

Futures for Dow Jones Industrials moved up 43 points, or 0.2%, early Friday, to 28,394.

Futures for the S&P 500 eased back 2.25 points, or 0.1%, at 3,459.25.

Futures for the NASDAQ Composite still filed backward 115.25 points, or 1%, to 11,685.25.

Traders also digested a key U.S. jobs report Friday, which revealed the stateside economy created 1.37 million jobs, running the unemployment rate down to 8.4%. Economists polled by Dow Jones projected the U.S. economy to have added more than one million jobs last month.

In pre-market trading Friday, Apple was lower by 2.5%. Tesla, which plunged 9% on Thursday, fell by 5% in the pre-market. Facebook, Amazon and Netflix were also in the red in early trading.

The steep declines in tech shares come after the space drove the lion’s share of the broader market’s comeback off the coronavirus selloff lows. Since March 23, the S&P 500 tech sector is up about 70%. For the year, tech has rallied more than 30%.

Overseas, in Japan, the Nikkei 225 stepped backward 1.1% Friday, while in Hong Kong, the Hang Seng index sank 1.3%.

Oil prices inched up 10 cents to $41.47 U.S. a barrel.

Gold prices regained seven dollars to $1,944.80.