US stock futures rose slightly
Istanbul, February 11 (Hibya) - In US markets, stock futures rose slightly as investors awaited the release of the delayed January employment report.
S&P 500 futures rose by 0.2%, and Nasdaq 100 futures also increased by the same percentage. Dow Jones Industrial Average futures rose by 85 points, or about 0.2%.
Investors are also awaiting the January non-farm payroll report, which will be released by the Bureau of Labor Statistics on Wednesday morning. The data had been delayed due to the partial government shutdown that ended on February 3.
Economists expect the latest employment report to show little or no growth in January. The Dow Jones consensus forecast is for a 55,000 increase, compared to a 50,000 increase in December. Economists also expect the unemployment rate to drop to 4.4%. In addition, investors are awaiting a series of revisions from the BLS (US Bureau of Labor Statistics) that could shed light on the state of the US labor market and economy.
According to analysts, a weak employment report will further increase the negative mood in the market caused by consumer data released on Tuesday, which came in below expectations. A new report shows that consumer spending remained flat in December, while economists polled by Dow Jones had expected a 0.4% monthly increase.
In normal trading, the S&P 500 fell 0.3% due to concerns over the impact of artificial intelligence on the financial sector. Following the launch of Altruist's new AI-powered tax planning tool, shares of many financial services companies lost value. The Nasdaq Composite dropped about 0.6%. However, the 30-stock Dow rose 0.1%, reaching an all-time high and setting a closing record.
In addition to the employment report, other economic data that could drive the markets will be released this week. A key economic indicator of inflation, the Consumer Price Index, is expected to be released on Friday.
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