Stock Futures Fall Slightly Ahead of September's Jobs Report
All major S&P sectors finished the session in negative territory, with the exception of energy. The sector rose 1.8% as oil prices gained and is on pace to close out the week 14.7% higher.
Thursday's downdraft comes as investors remain on edge ahead of September's jobs report slated for release Friday. The findings could offer further certainty into the Fed's tightening cycle, with aor upside surprise signaling that the Fed may need a tougher stance to slow the economy and tame surging prices. Economists surveyed by Dow Jones expect the data to show a 275,000 increase in nonfarm payrolls and unemployment to hover at 3.7%.
"The environment is ripe for a crisis and if the Fed keeps its hawkish communication up I think we're quite likely to have something break in the financial markets," Scott Minerd, Guggenheim's global chief investment officer said on CNBC's"Closing Bell: Overtime" on Thursday.
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