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U.S. Stock Futures Rise Ahead of Nonfarm Payrolls -Breaking

by Mike Robinson

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© Reuters.

Oliver Gray 

Investing.com – U.S. stock futures moved higher during Thursday’s late trade after major benchmark averages finished lower as investors monitored a troublesome bond market recession indicator while awaiting fresh Nonfarm payrolls data for March, set to be released during Friday’s session.

During Thursday’s deals, the lost 550.46 points or 1.6% to 34,678.36, posting the first negative quarter for stocks in two years. They fell 72.04 points 1.6% at 4,530.42, while the dropped 221.8 points (or 1.5%) to 14,220.52.

The increase was 0.3%, and the gain of 0.34% was 0.45%.

On Thursday technology stocks fell broadly with Block Inc (NYSE) falling 3.2% and Amazon.com Inc(NASDAQ:] dropping 2%. Microsoft Corporation (NASDAQ) lost 1.8%. Apple Inc (NASDAQ) dropped 1.8% while Alphabet Inc was down 2%.

The decline in EV manufacturing was reflected in Rivian Automotive Inc (NASDAQ 🙂 falls 3.4%; Tesla Inc (NASDAQ 🙂 drops 1.5%; Lucid Group Inc is down 4.2%.

Financial heavyweights fell significantly, with JPMorgan Chase & Co (NYSE:) down 3%, Citizens Financial Group Inc (NYSE:), losing 3.1%. Bank of America Corp. (NYSE:), down 4.1%. Citigroup Inc (NYSE:) losing 2.9%.

After the White House announced that it would release unprecedented amounts of oil from its Strategic Petroleum Reserve, energy companies suffered amid falling prices. Occidental Petroleum Corporation (NYSE:) fell 1.3%, Exxon Mobil The stock exchange traded as Corp. It fell by 1.4% Chevron Corp (NYSE 🙂 fell 1.6%, while ConocoPhillips(NYSE 🙂 dropped 1.1%.

For extended deals GameStop Corp After the stock-splitting announcement of the meme stock and videogame retailer, (NYSE:), shares jumped 15.9%

On the bond markets, yields were at 2.345%, while yields were last at 2.335% after the 2-year and 10-year Treasury yields inverted for the first time since 2019 during Thursday’s session, signaling that the economy is headed for a possible recession.

On the data front, investors will be looking ahead to Friday’s , which could give the Fed more confidence in its aggressive rate-hiking plan. Analysts expect that March will see an increase of 490,000. The unemployment rate is also expected to drop to 3.7%, from 3.8%. and the report are also set to be released during Friday’s session.

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