TLDR
- US stock futures rose Friday morning as traders waited for the September jobs report
- Dow and S&P 500 futures climbed roughly 0.3% to 0.4%, Nasdaq-100 futures gained about 0.6% to 0.7%
- Economists expect around 85,000 to 89,500 new jobs added in September, down from August’s total
- The report could influence whether the Federal Reserve hikes or holds rates at its October 28 meeting
- Oil prices steadied, with Brent crude holding near $102 per barrel
US stock futures moved higher on Friday morning. Investors were waiting for the September jobs report, due out later in the day.
Futures on the Dow Jones Industrial Average and S&P 500 rose between 0.3% and 0.4% in early trading. Nasdaq-100 futures gained between 0.6% and 0.7%.
The jobs data is seen as the main event of the week. It will show how many jobs the US economy added last month.
What Economists Expect From The Jobs Report
Economists forecast the economy added about 85,000 to 89,500 jobs in September. That would mark a slowdown from August, when the economy added 127,000 jobs.
August’s report had surprised forecasters by coming in stronger than expected. That strength helped stocks rally into the end of the week.
The Dow and S&P 500 had both snapped three-day losing streaks earlier in the week. The Nasdaq rose for a second straight session.
Traders are watching the jobs number closely because of what it means for the Federal Reserve. The central bank meets on October 28 to decide on interest rates.
According to the CME FedWatch tool, traders are pricing in a 74% chance the Fed will leave rates unchanged at that meeting. A weak jobs report could raise the odds of a pause. A strong one could revive talk of a hike.
Fed officials have said in recent days that they have time to study inflation data before making a move. They have also said that inflation remains too high for their liking.
Oil Prices And Other Market Factors
Treasury yields were flat on Friday morning. They have risen over the past month as traders adjusted their expectations for Fed policy.
🚨WARNING: US Treasuries just posted their WORST month in four years, per FT.
The 10-year yield surged more than half a percentage point in September to 5.3%, the sharpest rise since September 2022.
The 30-year yield is trading at its highest level since June 2002.
Investors… pic.twitter.com/FycpiaSeqb
— Coin Bureau (@coinbureau) October 1, 2026
Despite the yield increase, most traders still expect at least one 25 basis point hike before the end of the year. That expectation has shifted over recent weeks as new data has come in.
Brent crude futures, the global oil benchmark, held steady at around $102 per barrel. Oil prices have been affected by the ongoing conflict in the Middle East.
The war has now entered its eighth month. President Trump said this week he is considering resuming military action against Iran after the midterm elections.
He also said he is looking for a resolution to the conflict around that same time. On Thursday, the US sent an additional aircraft carrier and about 10,000 sailors and Marines to the Persian Gulf, according to a Bloomberg report.
Deutsche Bank macro strategist Henry Allen said monthly jobs reports are always a macro highlight. He added that this particular report is an important one because data resilience has supported US risk assets and given the Fed room to raise rates.
The jobs report is scheduled for release at 8:30 a.m. Eastern time. Markets will react quickly once the numbers are published.
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