Futures pare losses as economy adds more jobs than expected

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August 7, 2020

U.S. stock index futures pared early declines on Friday as data showed the economy added more jobs than expected last month, easing fears that a nascent recovery in the labor market was stalling.

The Labor Department’s closely watched report showed nonfarm payrolls increased by 1.76 million in July. While that was a sharp slowdown from a record 4.8 million in June, it was better than the 1.6 million economists surveyed by Reuters had forecast.

At 8:34 a.m. ET, Dow e-minis were up 4 points, or 0.01%, S&P 500 e-minis were down 2 points, or 0.06%, and Nasdaq 100 e-minis were down 10 points, or 0.09%.

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Moments before the data, Dow e-minis were down 102 points, or 0.37%, S&P 500 e-minis were down 11.25 points, or 0.34%, and Nasdaq 100 e-minis were down 35 points, or 0.31%.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Futures pare losses as economy adds more jobs than expected

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