Equity futures fall ahead of monthly jobs data
2018-12-07 07:28:34
Stock futures are pointing to another big drop at the open following yesterday's reversal. The catalyst for the reversal was a report that the Fed is considering a "wait and see" approach after the rate hike at the December meeting. Investors will be watching the monthly jobs report, which many analysts believe will be tempered due to the trade war with China. The unemployment rate is expected to remain at 3.7% and 198,000 jobs are forecast to have been added in November. Oil prices are lower as well as the OPEC meeting ended with a supply cut tied to Russia, which has said it will back only a limited move. In early pre-market trading, Dow futures are 168 points below fair value, Nasdaq futures are 57 points below fair value and S&P futures are 19 points below fair value.