Morning News Call | Dow Futures Jump 500 Points as Weak Jobs Report Sends Yields Lower

Moomoo Breakfast US wrote a column · May 3 07:48

Friday, May 3

Before the Bell U.S.

Stock futures jumped sharply Friday after a softer-than-expected April jobs report boosted hopes that the Federal Reserve could start cutting interest rates soon.

Futures tied to the $Dow Jones Industrial Average(.DJI.US)$ gained 502 points, or 1.3%. $S&P 500 Index(.SPX.US)$ futures rose 1.1%, while $NASDAQ 100 Index(.NDX.US)$ futures advanced about 1.6%.

Top News

U.S. Job Growth Totaled 175,000 in April, Much Less Than Expected, While Unemployment Rose to 3.9%

The U.S. economy added fewer jobs than expected in April while the unemployment rate rose, reversing a trend of robust job growth that had kept the Federal Reserve cautious as it looks for signals on when it can start cutting interest rates.

Fed and ECB Divergence on Rate Cuts Could Spell Trouble for the Euro, Economist Says

The prospect of the European Central Bank diverging from the Federal Reserve on interest rate cuts is likely to be "particularly negative" for the 20-nation euro zone, according to one economist.

$Apple(AAPL.US)$ Buys Itself Some Time for an AI Boost

Raised share buybacks helped buttress weak iPhone sales, but Apple will need to make its own AI play clear soon.

$Amgen(AMGN.US)$ Stock Jumps on Obesity Drug Optimism. What Comes Next

The company is trying to carve a niche in a rapidly growing obesity-drug market that's currently dominated by $Eli Lilly and Co(LLY.US)$ and $Novo-Nordisk A/S(NVO.US)$.

$Boeing(BA.US)$'s Latest Trouble Is a Jet Part Caught Up in Russia Sanctions

The plane maker can't deliver enough 787 Dreamliners after sanctions disrupted production of heat exchangers.

Market Snapshot