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Stock futures extended losses as market participants digested much weaker-than-expected payroll gains in the Bureau of Labor Statistics’ February jobs report.
Futures for the S&P 500 (ES=F) fell 0.74%, or 20.25 points, as of 8:46 a.m. ET. Dow futures (YM=F) fell 0.76%, or 194 points, setting the index up for a second consecutive week of losses. Nasdaq futures (NQ=F) fell 0.9%, or 63 points.
The U.S. economy added a sharply lower-than-expected 20,000 non-farm payrolls in February, the Bureau of Labor Statistics reported Friday. Consensus expectations called for 180,000 positions to be added for the month, according to Bloomberg data. February’s headline reading for new payrolls was the weakest in 17 months.
The report comes as readings for some other sectors have softened, particularly in manufacturing. The latest jobs report showed that manufacturing employment rose by just 4,000 positions in February, below expectations of 12,000. Within the goods producing industries – of which manufacturing is one component – new payrolls fell by 32,000.
Futures for the S&P 500 (ES=F) fell 0.74%, or 20.25 points, as of 8:46 a.m. ET. Dow futures (YM=F) fell 0.76%, or 194 points, setting the index up for a second consecutive week of losses. Nasdaq futures (NQ=F) fell 0.9%, or 63 points.
The U.S. economy added a sharply lower-than-expected 20,000 non-farm payrolls in February, the Bureau of Labor Statistics reported Friday. Consensus expectations called for 180,000 positions to be added for the month, according to Bloomberg data. February’s headline reading for new payrolls was the weakest in 17 months.
The report comes as readings for some other sectors have softened, particularly in manufacturing. The latest jobs report showed that manufacturing employment rose by just 4,000 positions in February, below expectations of 12,000. Within the goods producing industries – of which manufacturing is one component – new payrolls fell by 32,000.
