U.S. stock-index futures edged higher ahead of a doubtlessly blockbuster March jobs report, although money trading in equities — and most different markets — will stay closed because of the Good Friday vacation.
Futures on the Dow Jones Industrial Average
YM00,
rose 57 factors, or 0.2%, to 33,094, whereas S&P 500 futures
ES00,
rose 10.85 factors, or 0.3%, to 4,020.75 and Nasdaq-100 futures
NQM21,
had been up 32.50 factors, or 0.2%, at 13,348.50.
Need to Know: Why the jobs report will be important, even if no one is around to trade it
Major stock index benchmarks, in the meantime, wrapped up a holiday-shortened week on Thursday, with the S&P 500
SPX,
ending above the 4,000 milestone for the primary time. The S&P noticed a 1.2% weekly acquire, whereas the Dow Jones Industrial Average
DJIA,
rose 0.2% and the Nasdaq Composite
COMP,
superior 2.6%.
U.S. fairness futures will shut at 9:15 a.m. Eastern, simply 45 minutes after the discharge of the March jobs report from the Labor Department. Economists surveyed by Dow Jones Newswires and The Wall Street Journal, on common, estimated the report will show 675,000 new jobs were created in March, with some economists wanting for the determine to high 1 million.
An employment report that tops estimates “could still be seen as ‘good news is bad news,’ i.e. that the speed of recovery may now prompt the Fed to taper QE earlier than they would have previously done,” stated technical analyst Ed Matts, founder of Matrixtrade.com, in a be aware. “This would result in an instant (unsustained) spike in Treasury yields and pullback in stocks.”
U.S. Treasury debt trading will likely be open for the jobs report, with Sifma advising a midday shut for money commerce in bonds. The yield on the 10-year Treasury be aware
TMUBMUSD10Y,
was down lower than 1 foundation level at 1.678%.
Also see: Easter holiday schedule could leave bond traders vulnerable on a blockbuster jobs day
