FX.co ★ US Futures Slip Ahead of Key Jobs Report

U.S. stock futures marginally declined on Friday as investors anticipated the much-anticipated July jobs report, a critical indicator of economic health and a potential influencer of future monetary policy. During after-hours trading, Amazon saw a decrease of approximately 7% following a disappointing revenue forecast for the upcoming quarter, whereas Apple saw a 2% rise after surpassing earnings and revenue expectations. In Thursday's regular trading session, the Dow Jones Industrial Average dropped by 0.74%, the S&P 500 fell by 0.37%, and the Nasdaq experienced a slight decline of 0.03%. Despite gains in Microsoft and Meta, the broader market exhibited weakness amidst renewed trade tensions and lingering economic uncertainty. Concurrently, President Donald Trump's reciprocal tariffs are scheduled to take effect today, as the White House has decided against extending the deadline. In terms of economic data, core Personal Consumption Expenditures (PCE) prices, the Federal Reserve's favored measure of inflation, increased by 0.3% in June and 2.8% year-on-year, which further complicates the outlook for a potential interest rate cut in September.