Dow, S&P 500, Nasdaq futures waver after monthly jobs report

US stock futures were little changed on Friday as investors digested a highly anticipated monthly jobs report and Amazon’s (AMZN) disappointing revenue outlook.

Contracts on the S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) hovered near the flatline. Dow Jones Industrial Average futures (YM=F) flipped into green territory on the heels of a mixed day for stocks on Wall Street.

The US economy added 143,000 jobs in January, less than the 173,000 expected by economists, while the unemployment rate ticked down to 4.0%, versus expectations of 4.1%.

The jobs report has become more crucial to hopes for another Federal Reserve interest-rate cut. Investors are watching for cracks in the market’s stability, as they eye President Donald Trump’s tariff push and the chances of higher inflation.

But Friday’s reading likely won’t be a game-changer for the Fed, economists believe, keeping alive bets that no rate cut will arrive until the central bank’s June meeting.

Meanwhile, eyes were on Amazon’s (AMZN) earnings after it joined Google (GOOG) and other AI-focused Big Tech companies in disappointing Wall Street with its revenue outlook. Shares in Amazon dropped around 3% in pre-market trading, echoing post-results pullbacks for Google and AMD (AMD) amid doubts about high AI development spending.

But the three major stock gauges are on track to close the earnings-packed week with small gains, even after unpredictable tariff news from Trump kept traders on their toes.

The president has now set his eyes on hedge funds, with a plan to close a favorite tax deduction loophole for fund managers. An adjustment to the closely watched state and local tax (SALT) deduction was also on his administration’s list of tax priorities outlined on Thursday.

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US added 143,000 jobs in January while unemployment fell to 4%

Yahoo Finance’s Josh Schafer reports:

The US labor market showed continued signs of resilience in January as the unemployment rate unexpectedly fell and wages grew more than expected.

Data from the Bureau of Labor Statistics released Friday showed the unemployment rate fell to 4% in January from 4.1% the month prior.

143,000 new jobs were created in January, less than the 170,000 expected by economists, and lower than the 307,000 seen in December. December’s monthly job gains were revised higher from a previous reading of 256,000.

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Europe stocks wobble, but head for 7th weekly win

Stocks in Europe wavered on Friday but were on track for weekly gains after a run of robust earnings reports from Novo Nordisk (NVO, NOVO-B.CO) and others.

The pan-European Stoxx 600 (^STOXX) index was holding steady, not far off record highs as it eyed its seventh weekly win in a row. In 2025 so far, European stocks have notched their best performance compared with their US counterparts in around 10 years.

In individual benchmarks, Germany’s DAX (^GDAXI) edged up 0.1%, while the CAC (^FCHI) in Paris traded flat.

London’s FTSE 100 index (^FTSE) slipped roughly 0.3%, after surging on Thursday on the heels of an interest rate cut by the Bank of England that came with unexpectedly dovish commentary.
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Amazon warns that they will face difficulties in meeting AI demand in 2025

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