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Update: US Equity Futures Mixed Pre-Bell as Traders Assess August Employment Report

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(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)

US equity futures were mixed pre-bell Friday as traders parsed the employment report for August for a view on how the labor market is faring.

Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.3%, and Nasdaq futures were 0.1% higher.

Federal Reserve Governor Christopher Waller told Reuters Thursday he is leaning toward keeping interest rates steady at the central bank's September meeting if upcoming inflation data shows that price pressures are continuing to moderate. However, he added, "If inflation comes in hot, I would consider a rate hike."

The EU has formally joined US-led economic sanctions on Iran. In a post on X, US Treasury Secretary Scott Bessent said, "The world is sending a clear message to the Iranian regime: We will not stop until every remaining financial lifeline has been severed."

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $94.89 per barrel and US West Texas Intermediate crude 0.9% lower at $90.48 per barrel.

The August national unemployment rate was reported at 4.1%, unchanged from the prior month and meeting expectations according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 1.3% higher, Hong Kong's Hang Seng ended 1.7% higher, and China's Shanghai Composite finished 0.3% lower. Meanwhile, the UK's FTSE 100 was flat, and Germany's DAX index was 0.4% higher in Europe's early afternoon session.

In equities, Tesla (TSLA) shares dropped 3.1% after the US National Highway Traffic Safety Administration said that the company's Cybercab is under investigation over the process used to claim compliance with federal vehicle safety standards. BHP Group (BHP) stock was down 1.8% after the company said it was aware of recent media speculation regarding a potential partnership involving part of its Western Australia Iron Ore business. Lululemon Athletica (LULU) shares fell more than 20% after the company reported late Thursday a decline in its fiscal Q2 results and cut its full-year outlook.

On the winning side, Nvidia (NVDA) shares rose 1.1% after a CNBC report that the company has increased its equity investments more than ten-fold in the past year to $99 billion as of July 26. United Microelectronics (UMC) stock was up 2.3% after the company reported sales of 25.04 billion New Taiwan dollars ($790.6 million) in August, up 30.71% from a year earlier.

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Update: US Equity Indexes Jump as Sliding Odds for Fed Policy Tightening in September Push Treasury Yields Lower

(Updates with index/price moves, macroeconomic data and company/geopolitical news from the first paragraph.)US equity indexes rose in a broad-based rally as falling odds of the Federal Reserve increasing interest rates later this month pushed government bond yields lower.The Nasdaq Composite rose 1.4% to 26,584.06, the S&P 500 climbed 1.1% to 7,747.71, and the Dow Jones Industrial Average advanced 1.2% to 53,686.11 on Thursday. All sectors rose except energy, materials and consumer staples. Communication services, consumer discretionary and financials topped the gainers.Federal Reserve Governor Christopher Waller said he would be "inclined to support" holding rates steady at the next Federal Open Market Committee meeting in September if the August inflation print shows progress toward the central bank's 2% goal."Yields retreated in reaction to Waller's latest comments," Lindsey Piegza, chief economist at Stifel, said in a note. "The relatively quick and notable reaction in the market to the latest Fed commentary suggests investors were already skeptical of the Fed's intentions to move forward with firmer policy as early as later this month."The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.Treasury yields fell, with the 10-year down 2.4 basis points to 4.77% and the two-year lower by 4.6 basis points to 4.34%.Gold futures surged 2.4% to $4,518.3, and silver futures soared 3.2% to $67.53.In company news, Palantir Technologies (PLTR) and PwC expanded their strategic alliance to help enterprises deploy artificial intelligence tools across critical business operations, PwC said Thursday. Palantir shares jumped 7.7%, the top gainer on the S&P 500 and the Nasdaq.Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blog post.Snowflake (SNOW) shares soared 17% as the cloud-based data platform lifted its full-year product revenue outlook. Snowflake could see faster revenue growth as business use of AI increases demand for data products, and strong usage and backlog trends combined with wider AI adoption could push growth above current expectations, UBS said in a note.In geopolitical news, the US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported.In economic news, initial jobless claims rose sequentially to 206,000 during the week ended Aug. 29 from an upwardly revised 204,000, compared with expectations for an increase to 205,000 in a Bloomberg-compiled survey. The four-week moving average rose by 1,500 to 207,250.The Institute for Supply Management's US services index rose to 55.4 in August from 54.1 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index now sits at its highest since February, before Operation Epic Fury and the run-up in energy prices from the closure of the Strait of Hormuz, according to a Jefferies note.

Dow JonesNasdaq CompositeS&P 500$NVDA$PLTR$SNOW
Asia Markets

Update: US Equity Indexes Rise as Plunging Fed Policy Tightening Odds Send Treasury Yields Lower

(Updates with index/price moves and company news from the first paragraph.)US equity indexes rose in a broad-based rally as a fall in market expectations for an interest-rate increase this month pushed government bond yields lower.The Nasdaq Composite rose 1.3% to 26,555.7, the S&P 500 climbed 1% to 7,740.9, and the Dow Jones Industrial Average advanced 1.2% to 53,675.5 ahead of Thursday's close. All sectors except energy and materials rose. Communication services, consumer discretionary and financials topped the gainers.Federal Reserve Governor Christopher Waller said he would be "inclined to support" holding rates steady at the next Federal Open Market Committee meeting in September if the August inflation print shows progress toward the central bank's 2% goal."Yields retreated in reaction to Waller's latest comments," Lindsey Piegza, chief economist at Stifel, said in a note. "The relatively quick and notable reaction in the market to the latest Fed commentary suggests investors were already skeptical of the Fed's intentions to move forward with firmer policy as early as later this month."The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.Treasury yields fell, with the 10-year down 2.6 basis points to 4.77% and the two-year lower by five basis points to 4.34% in the final leg of trading.In company news, Palantir Technologies (PLTR) and PwC expanded their strategic alliance to help enterprises deploy artificial intelligence tools across critical business operations, PwC said Thursday. Palantir shares jumped 8.1%, the top gainer on the S&P 500 and the Nasdaq.Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blog post.Snowflake (SNOW) shares soared 18% as the cloud-based data platform lifted its full-year product revenue outlook. Snowflake could see faster revenue growth as business use of AI increases demand for data products, and strong usage and backlog trends combined with wider AI adoption could push growth above current expectations, UBS said in a note.

Dow JonesNasdaq CompositeS&P 500$NVDA$PLTR$SNOW
Asia Markets

Update: US Equity Indexes Rise, Treasury Yields Slump Amid Plunging Bets of September Fed Policy Tightening

(Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)US equity indexes rose as government bond yields slumped amid a fall in market expectations of an interest rate increase as early as this month.The Nasdaq Composite rose 1.3% to 26,555.7, the S&P 500 climbed 1% to 7,740.9, and the Dow Jones Industrial Average advanced 1.2% to 53,675.5. All sectors except materials rose. Communication services, consumer discretionary and financials topped the gainers.Federal Reserve Governor Christopher Waller said he would be "inclined to support" holding rates steady at the next Federal Open Market Committee meeting in September if the August inflation print shows progress toward the central bank's 2% goal.The probability of the Fed raising its target rate by 25 basis points to 3.75%-4.0% in September slumped to 50% after midday Thursday from 63% a day ago, according to the CME FedWatch tool. The remaining likelihood is that policy will remain on hold.Treasury yields fell, with the 10-year down four basis points to 4.75% and the two-year lower by five basis points to 4.34%.Gold futures surged 2.7% to $4,534.7, and silver futures soared 3.4% to $67.67.The US and Iran have intensified tit-for-tat military strikes in recent days, remaining locked between ceasefire and all-out war as the White House struggles to end the six-month conflict, Bloomberg reported. Iran said it attacked bases in Kuwait and the United Arab Emirates "in response to America's crimes against the Iranian people," Al Jazeera, a Middle Eastern broadcaster, reported.The front-month US West Texas Intermediate crude oil contract added 0.7% to $91.62 per barrel, and global benchmark North Sea Brent climbed 0.1% to $95.73 per barrel.In economic news, initial jobless claims rose sequentially to 206,000 during the week ended Aug. 29 from an upwardly revised 204,000, compared with expectations for an increase to 205,000 in a Bloomberg-compiled survey. The four-week moving average rose by 1,500 to 207,250.The Institute for Supply Management's US services index rose to 55.4 in August from 54.1 in July, compared with expectations for no change in a survey compiled by Bloomberg. The index now sits at its highest since February, before Operation Epic Fury and the run-up in energy prices from the closure of the Strait of Hormuz, according to a Jefferies note.The ISM reading is in line with the New York Fed and Dallas Fed's services prints that indicated expansion. The other regional Fed measures indicated contraction.The S&P Global US services index was revised downward to 56.5 in August from the 56.8 flash reading, as expected in a survey compiled by Bloomberg. The August print remains above July's 54.6.In company news, Nvidia (NVDA) has agreed to acquire Hugging Face for $12.93 billion, Chief Executive Jensen Huang said in a blog post.

Dow JonesNasdaq CompositeS&P 500$NVDA