S&P500 Holds Steady Ahead of Jobs Report as Inflation Concerns Mount
US futures are trending upward as the S&P500 holds steady near 7,680 ahead of Friday's highly anticipated jobs report. The September nonfarm payrolls are expected to show a decline in job additions, with around 90,000 new positions created, down from August's 162,000.
Markets are closely watching Treasury yields and oil prices, which have been rising due to inflation concerns and the ongoing conflict in the Middle East. The US 10-year yield has reached its highest level since 2002, briefly touching 5.34% on Thursday.
A stronger-than-expected jobs report could reinforce expectations for further Federal Reserve tightening, potentially pushing yields higher and weighing on equity valuations. Conversely, a moderately weaker report may support stocks by easing rate-hike expectations without raising doubts about economic growth.