Stock futures are mixed Monday night as the market looks to maintain momentum in the holiday-shortened week.
Futures tied to the Dow Jones Industrial Average lost 49 points, or 0.14%. S&P 500 futures were lower by 1 point, or 0.02%, while Nasdaq 100 futures gained 11.75 points, or 0.08%.since July. The 30-stock Dow and the Nasdaq added 1.4% and about 3.3% for the week. The S&P 500 gained 2.5% to register its best week since June.The latest U.S. nonfarm payrolls report
showed the unemployment rate ticked higher to 3.8% in August, reaching its highest level in more than a year. Economists had expected it to remain at 3.5%. Average hourly earnings also increased 4.3% on a year-over-year basis, less than the 4.4% increase expected by economists polled by Dow Jones. Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weekly"That [report] raises the critical short-term question for investors, can the labor market slow sufficiently, while inflation also decelerates, allowing the Federal Reserve to halt its policy rate hiking and keep rates stable for a while? It does appear as if slack in the labor force is growing," said Rick Rieder, chief investment officer of global fixed income at BlackRock.
Still, some technical indicators gave investors hope last week. In a sign of positive short-term momentum, the major indexes broke above their respective 50-day moving averages this past week.
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