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US stock futures mixed ahead of July nonfarm payrolls

Investors were also reacting to a rebound in oil prices and rising inflation concerns, while CME FedWatch showed September rate hike odds at 54.5% versus 67.0% last week.

Reported · Written up by our desk · Major Pairs

FXStreet reported that Dow Jones futures edged down 0.04% to around 53,990 during European hours, while S&P 500 futures rose 0.07% to near 7,740 and Nasdaq 100 futures gained 0.29% to about 29,570.

The outlet said traders are taking a cautious stance ahead of the July Nonfarm Payrolls report, looking for clearer signals on the labor market that could influence the Federal Reserve's next monetary policy steps.

FXStreet added that markets pulled back in Thursday's regular session, with the Dow Jones down 0.85%, the S&P 500 off 0.18%, and the Nasdaq Composite down 0.06%, attributing the move primarily to a rebound in oil prices that renewed inflation worries and boosted speculation about the Fed raising rates as soon as next month.

According to FXStreet, while investors have been concerned about higher rates, the CME FedWatch Tool showed a 54.5% probability of a 25 basis point Fed increase in September, down from 67.0% last week, and Danske Bank strategists described the session as more driven by sector rotation than broad selling, with defensives led by energy, along with consumer staples and health care.

Latest closeS&P 500 7,709.96 ▼0.2%|Nasdaq Comp. 26,348.35 ▼0.1%|Dow Jones 53,885.10 ▼0.8%

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