(Editor’s note: The future prices of benchmark tracking ETFs, and the headline, the lede and the economic were updated in the story.)
U.S. stock futures rose on Friday after Thursday’s declines. This followed an exchange of fire near the Strait of Hormuz between the U.S. and Iranian forces.
Speaking to an ABC reporter, Donald Trump referred to the exchange as “just a love tap,” according to a social media post by the journalist. He also added that the ceasefire was still in effect and ongoing.
U.S. nonfarm payrolls defied expectations in April, with total employment edging up by 115,000 jobs to comfortably beat the FactSet consensus estimate of a 65,000 rise. Despite the stronger-than-expected job growth, the unemployment rate remained unchanged at 4.3%.
On the inflation front, average hourly earnings for all employees on private nonfarm payrolls rose by 6 cents, or 0.2%, to $37.41, bringing the annual wage increase to 3.6%.
Meanwhile, the 10-year Treasury bond yielded 4.36%, and the two-year bond was at 3.90%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.8% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.
| Index | Performance (+/-) |
| Dow Jones | 0.16% |
| S&P 500 | 0.39% |
| Nasdaq 100 | 0.60% |
| Russell 2000 | 0.16% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Friday. The SPY was up 0.52% at $735.35, while the QQQ advanced 0.80% to $700.50.
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