US futures up as APPL, AMZN slip — Eyes on US jobs data [Video]
|The S&P 500 gained for the eighth consecutive session despite a set of soft economic data and cautious earnings forecasts. The lack of escalation in the trade war over the past week and dovish Federal Reserve (Fed) expectations certainly explain a major part of the recent gains. But optimism remains fragile, and the Fed’s ability to help depends on the trajectory of inflation.
Today, eyes are on the US official jobs data and Big Oil earnings. While soft jobs data could temporarily fuel the dovish Fed expectations and keep investor appetite in check, disappointing results from oil giants – combined to weakening oil prices – should limit gains among energy companies.
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