Stock futures were little changed in volatile trading as traders digested the latest jobs figures and movements in interest rates. Futures tied to the Dow Jones Industrial Average added 17 points, or 0.04%. S&P 500 futures and Nasdaq 100 futures were flat. January’s jobs report released Friday showed a measly 143,000 jobs were added for the month, but traders were concentrating on other parts of the report. The unemployment rate actually fell to 4% from 4.1%, and December’s and November’s jobs figures were revised up significantly. The 10-year Treasury yield jumped above 4.47% in response. Average hourly earnings for January were also higher than expected, raising inflation fears. “Today’s employment report probably keeps the Fed on hold for probably one more meeting,” said Bryce Doty, senior portfolio manager at Sit Investment Associates. “While jobs weren’t exceptional my any means, a lower unemployment rate and a strong increase in wage growth means the labor market is still healthy. Expect yields to drift higher as investors digest the details.” Amazon lost more than 2% in premarket trading, weighing on sentiment. Guidance from the e-commerce giant disappointed investors, as Amazon called for revenue growth of 5% to 9% in the first quarter — its weakest growth on record. The outlook overshadowed top- and bottom-line beats in the fourth quarter. During Thursday’s main trading session, the S&P 500 rose about 0.4%, and the Nasdaq Composite added 0.5%. It marked the third winning session in a row for the two indexes. The Dow underperformed, dipping roughly 0.3%. All three major averages are on track to finish the week with modest gains. The S&P 500 is on pace for a 0.7% advance, while the Nasdaq is tracking for a 0.8% jump during the period. The Dow is lagging, with a week-to-date climb of about 0.5%. Stocks have managed to rebound from Monday’s sell-off, which came after President Donald Trump over the weekend announced 10% tariffs on China. He agreed to pause 25% levies on Canada and Mexico. The Trump administration will pose a “wild card” for the market, BD8 Capital Partners CEO Barbara Doran said Thursday on CNBC’s “Closing Bell: Overtime.” Expect “volatility in the market, particularly with valuations where they are in general for the market,” she said. U.S. Treasury yields were higher on Friday following the release of key January jobs data. The 10-year Treasury yield rose about four basis points to 4.481%. The 2-year Treasury yield was last at 4.26% after rising by five basis points. Yields and prices move in opposite directions. Asia-Pacific markets were mixed Friday as investors assessed India’s interest rate decision and Japan’s household spending data. Australia’s S&P/ASX 200 dipped 0.11% to end at 8,511.4. Japan’s Nikkei 225 fell 0.72% to close at 38,787.02 and the Topix traded 0.54% lower to end the trading day at 2,737.23. South Korea’s Kospi shed 0.58% to close at 2,521.92, while the small-cap Kosdaq rose 0.35% to close at 742.9. Hong Kong’s Hang Seng Index added 1.1% in its final hour of trade, while mainland China’s CSI 300 rose 1.3% to end at 3,892.70. Oil prices rose on Friday after new sanctions were imposed on Iran’s crude exports but were on track for a third straight week of decline, hurt by U.S. President Donald Trump’s renewed trade war on China and threats of tariffs on other countries. Brent crude futures were up 51 cents, or 0.7%, at $74.80 a barrel, but were poised to fall 2.6% this week. U.S. West Texas Intermediate crude rose 48 cents, or also 0.7%, to $71.09 a barrel, down 2.1% on a weekly basis. Gold firmed on Friday and was on track for a sixth consecutive week of gains on a trade war-fueled safe-haven demand, while attention turned to the upcoming U.S. non-farm payrolls report for cues on the Federal Reserve’s interest rate path. Spot gold gained 0.3% to $2,865.36 per ounce, rising more than 2% this week. Bullion hit an all-time high of $2,882.16 on Wednesday. U.S. gold futures added 0.4% to $2,889.50.
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