Stocks seek direction ahead of September jobs report

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Economists expect US economy to add 500,000 jobs last month

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we store Futures were little changed on Friday morning as traders awaited the September release Jobs The report comes after the Senate passed a short-term increase in the debt limit.

The Dow Jones Industrial Average futures were up 19 points, or 0.05%, while the S&P 500 futures and Nasdaq 100 futures were up 0.02% and 0.06%, respectively.

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Late Thursday, the Senate passed a measure that would raise the debt limit to $480 billion, giving the Treasury enough money to pay the bills by December 3. A House vote is expected in the coming days.

Senate votes to remove $480 billion debt limit

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Meanwhile, a September jobs report, due out at 8:30 a.m. ET, is expected to add 500,000 jobs to the US economy last month as the unemployment rate slipped to 5.1%. In August, 235,000 jobs were received.

Prior to the report, the 10-year yield rose 1 basis point to 1.58% and was on track to close at a six-month high.

In stocks, Vaxart Inc., according to a study led by Duke University. An oral COVID-19 vaccine candidate reduces airborne transmission of the virus in an animal model. Shares of fellow vaccine makers, including Moderna Inc., took the news quickly.

Tesla Inc. will move its headquarters from Palo Alto, California to Austin, Texas, CEO Elon Musk said Thursday. Still, the electric-car maker plans to increase production at its plants in California and Nevada.

In the deals, insurer Chubb Ltd agreed to buy Cigna Corp’s life, casualty and supplemental benefits businesses in Asia Pacific and Turkey for $5.75 billion.

In commodities, West Texas Intermediate crude rose 50 cents to $78.80 an ounce and gold by $1.20 to $1,760.40 an ounce.

In the overseas markets, there was a mixed trend of weakness in Europe and strength in Asia.

European shares were partly lower, with Britain’s FTSE 100 down 0.01%, Germany’s DAX 30 down 0.1% and France’s CAC 40 down 0.4%.

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In Asia, Hong Kong’s Hang Seng index rose 0.55%, China’s Shanghai Composite 0.67% and Japan’s Nikkei 225 by 1.34%.


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