Futures tied to the Dow Jones Industrial Average fell 46 points, or 0.1%, while S&P 500 futures edged 0.1% higher. Nasdaq-100 futures gained 0.5%.
The muted moves came after a strong session for Wall Street on Thursday, when all three major averages advanced. The Dow jumped more than 600 points, or 1.2%, for its best session since August 4.
All eyes on US jobs
Investors are now focused on the August nonfarm payrolls report, due at 8:30 a.m. ET.
Economists surveyed by Dow Jones expect the US economy to have added roughly 53,000-55,000 jobs in August, following an unexpected decline of 23,000 in July. The unemployment rate is expected to rise to 4.1%.
Recent data has painted a picture of a labour market that is growing slowly but has so far avoided a sharp deterioration.
Friday’s report could therefore influence expectations for what the Federal Reserve does next with interest rates. A significantly weaker-than-expected jobs number could strengthen the case for lower rates, while a stronger reading could reduce the urgency for the central bank to ease policy.
US Treasury yields pulled back after Federal Reserve Governor Christopher Waller said he would be inclined to support keeping the benchmark interest rate at its current 3.5%-3.75% range at the Fed’s September 15-16 meeting.Lululemon plunges 20% after weak outlook
Lululemon Athletica was among the biggest premarket movers, with its shares tumbling around 20% after the athletic-apparel maker issued a weaker-than-expected outlook and cut its full-year guidance.
The company expects third-quarter earnings of 93 cents to 98 cents a share, well below the $2.40 expected by analysts surveyed by LSEG.
Lululemon forecast third-quarter revenue of $2.29 billion to $2.32 billion, compared with analysts’ expectations of $2.53 billion.
The company also missed revenue expectations for the second quarter, reporting $2.42 billion against the $2.46 billion analysts had expected.
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