Dow, S&P 500, Nasdaq Futures Tread Water As August Jobs Data Looms: TSLA, LULU, PL, CRDO Stocks In Focus

Yahoo Finance · 2026-09-04

Economists polled by Dow Jones are expecting an addition of 53,000 nonfarm payrolls for August, with the unemployment rate expected to be 4.1%.Federal Reserve Governor Christopher Waller indicated he is leaning toward holding interest rates steady.Meanwhile, according to data from the CME FedWatch tool, markets are evenly split between a rate hike and a decision to hold interest rates steady.U.S. stock futures were trading higher in the overnight session late Thursday as markets keenly await August’s jobs report that is likely to provide cues on the state of the economy and the Federal Reserve’s interest rate decision.Dow futures climbed 0.03%, while the S&P 500 and Nasdaq-100 gained 0.02% and 0.07%, respectively, at 10:44 PM EDT. On Thursday, all three benchmark indexes ended higher amid cooling Treasury yields. The Nasdaq Composite led the climb, ending the session 1.40% higher. The Dow Jones Industrial Average and S&P 500 also closed up 1.18% and 1.06%. IndexMoveCloseDow Jones Industrial Average1.18%53,686.11S&P 5001.06%7,747.71Nasdaq Composite1.40%26,584.06The Dow, S&P 500 and Nasdaq Composite are also on track to end the week higher to close two consecutive weeks of gains. Key US Market DriversOn Friday, markets will focus on August’s nonfarm payrolls data for more cues on the U.S. economy and the potential interest rate trajectory. According to a report from CNBC, economists polled by Dow Jones are expecting an addition of 53,000 nonfarm payrolls for August, with the unemployment rate expected to be 4.1%. In July, the U.S. reported a loss of 23,000 jobs. The print is important, especially for how the Fed may direct its policy in the upcoming September meeting. Any signs of resilience in the labor market could solidify the case for interest rate hikes. However, on Thursday, Federal Reserve Governor Christopher Waller indicated that he is leaning toward holding interest rates steady at the central bank's next policy meeting, provided inflation data shows price pressures are continuing to moderate.According to a Reuters report, Waller said that "if there is continued progress toward our 2% goal, then I am willing to support holding the policy rate at its current level." However, he reportedly added, "If inflation comes in hot, I would consider a rate hike.”The Consumer Price Index for August is expected to be released on the morning of Sept. 11. Meanwhile, according to data from the CME FedWatch tool, markets are evenly split between a rate hike and a decision to hold interest rates steady. Data shows a 49.8% probability of a hold decision, down from 64.6% a week ago, while the probability of a 25 basis point hike is 50.2%, up from 35.4% a week ago.“The financial markets concluded that Waller is an owl, i.e., an FOMC voter watching incoming inflation data before deciding whether to vote for a hike at the Committee's September 15-16 meeting. We reckon that of the 12 voters on the FOMC, five are hawks (i.e., ready to hike), while six are owls. That's why bonds and stocks rallied today when Waller joined the latter birdies,” Yardeni Research said in a post on Thursday. Meanwhile, tensions in the Middle East continue into the end of the week. Iran has reportedly targeted U.S. bases in the UAE and Kuwait with missiles and drones, as Israel’s defense chief warned that mounting economic pressure from sanctions could push Tehran toward more extreme measures. However, US Vice President JD Vance said there are no “major combat operations” underway in Iran, while Washington investigates an alleged US strike on a wedding ceremony. Oil prices continued to climb late Thursday. Brent crude futures expiring in November were up about 0.43% to trade at $95.93 a barrel at the time of writing. Meanwhile, WTI crude futures expiring in October were trading at $91.85 per barrel, up 0.60%. The U.S. 10-year Treasury yield was trading at 4.768% at the time of writing, while the U.S. 30-year Treasury yield was trading at 5.243%.Trending Stocks To Watch Tesla, Inc. (TSLA): Shares of the EV maker fell nearly 2% overnight late Thursday after U.S. safety regulators scrutinized its Cybercab rollout, and a lack of a public livestream showcasing the vehicle fueled frustration among retail investors.Lululemon Athletica Inc. (LULU): Shares of the athletic apparel maker fell nearly 18% overnight after its second-quarter (Q2) results disappointed investors. Meanwhile, ‘The Big Short’ investor Michael Burry is continuing to back Lululemon despite another decline.Planet Labs PBC (PL): Shares of the company were up more than 5% overnight at the time of writing after Planet Labs posted strong second-quarter results on Thursday, with revenue and earnings beating Wall Street estimates.Credo Technology Group Holding Ltd. (CRDO): The shares of the company were on the retail radar amid buzz about its potential inclusion in the S&P 500’s third-quarter portfolio rebalancing. Other Market Trends Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), the Invesco QQQ Trust (QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (DIA) were all trending higher at the time of writing. The iShares 20+ Year Treasury Bond ETF (TLT) was up 0.13% amid ‘bearish’ sentiment.Asian markets were trading mixed at the open on Friday. South Korea's KOSPI, China’s SSE Composite, and Japan’s Nikkei 225 were edging higher at the time of writing, while Australian stocks were trading in the red. For updates and corrections, email newsroom[at]stocktwits[dot]com.

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