US stock futures rose on Friday after softer-than-expected employment data reduced the likelihood of a Federal Reserve rate hike next month. The S&P 500 climbed 0.5% to a record high, the Dow advanced 0.3%, and the Nasdaq gained 0.9%. Non-farm payrolls unexpectedly declined by 23,000 from the prior month and wage growth slowed, while both the unemployment rate and labor force participation rate fell. The data helped ease concerns that a tight labor market would continue to fuel inflation.
Yields retreated even as recent FOMC commentary emphasized inflation risks, providing support for credit‑sensitive equities alongside this week’s rebound in hyperscalers and bank stocks. SpaceX held on to yesterday’s gains even as $101 billion of its shares were freed from post-IPO lockups. Elsewhere, Sandisk and Western Digital traded sharply higher in the premarket following yesterday’s earnings-driven selloff, underscoring continued volatility in the semiconductor sector. Berkshire Hathaway shares were little changed ahead of the company’s earnings release tomorrow.
