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Stock index futures fell Friday morning as they await the latest nonfarm payrolls report and unemployment data.
Early and Nasdaq futures (NDX:IND) were -0.3%S&P futures (SPX) were -0.2%and Dow futures (INDU) were -0.3%.
The US employment report for February will be released shortly. Economists expect 215,000 jobs to be created during the month and the unemployment rate to remain stable at 3.7%.
The report comes after Wall Street received ADP's employment report earlier in the week, which highlighted that U.S. private sector employment rose by 140,000 in February, while during the week of March 2 , jobless claims were unchanged at 217,000.
“We estimate that nonfarm payrolls increased by 215,000 in February, somewhat above the consensus of +200,000, but well below the pace of +353,000 in January. “We believe fewer year-end layoffs produced last month's temporary spike, and with the seasonal layoff period now behind us, we assume a return to a more normal pace of job creation,” Goldman Sachs said.
Looking toward the Treasury market, yields have fallen, with the shorter US 2-Year Treasury yield (US2Y) falling 2 basis points to 4.49%. At the same time, the yield on the long-term 10-year US Treasury bond fell 2 basis points to 4.07%.
See here how other yields trade along the entire yield curve.
In other market-related news, DocuSign (DOCU) stock rose 10% following upbeat 4Q24 results, as the stock indicated an 8% year-over-year increase in subscription revenue. Check out some of the other big moves on Wall Street on Friday.
