Stock futures declined early on Friday following a Wall Street gain as investors awaited Friday’s important job report. The Dow Jones Industrial Average futures dropped 91 points or 0.29 percent. Nasdaq 100 futures down 0.44 percent, while S&P 500 futures fell 0.36 percent.
On the other hand, the shares of Levi Strauss rose more than 3% after the company presented quarterly reports that exceeded expectations and increased its dividend.
When GameStop sacked its chief financial officer and said it would make layoffs as part of a recovery plan, its stock dropped by nearly 5% in after-hours trade. However, a day after the video game store revealed that its board had authorised a 4-for-1 stock split, the shares saw a 15% rise during regular trading.
According to Bespoke Investment Group, the S&P 500 had a four-day winning run on Thursday, matching its length for the year to date. However, the index has decreased by nearly 19% since reaching an all-time high in January.
Regular trade saw advances driven by energy equities as the price of oil recovered from a previous decline. Exxon Mobil increased by about 3.2 percent, while Occidental Petroleum increased by almost 4 percent. After Samsung reported impressive results, chipmakers gave the tech sector a lift.
The job market defies any indications of an oncoming recession or economic downturn. Meanwhile, the June employment report, due on Friday, is anticipated to reveal another month of solid hiring.
According to Dow Jones, economists anticipate that the U.S. economy gained 250,000 jobs last month. The unemployment rate remained unchanged at 3.6 percent. In addition, employers created 390,000 new jobs in May, more than experts predicted. During this holiday-shortened week, the S&P 500 is up around 2%, and it’s on track to have its second positive week in the past three.
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