S&P 500 futures pull back after stronger-than-expected nonfarm payrolls
S&P 500 futures slid to trade near 7,720 after stronger-than-expected nonfarm payrolls. Treasury yields rose and expectations shifted ahead of the upcoming Federal Reserve policy meeting, with Nasdaq slightly higher and Russell 2000 basically unchanged.
S&P 500 futures pulled back to trade near 7,720 following a stronger-than-expected nonfarm payrolls report, which pushed Treasury yields higher and shifted market expectations ahead of the upcoming Federal Reserve policy meeting.
Despite intraday selling pressure in the S&P 500 and Dow, major equity indices showed divergence, with the Nasdaq trading slightly higher and the Russell 2000 remaining basically unchanged.
On a week-over-week basis, S&P 500 futures remain flat compared to last Friday's close of 7,722, trading within a tight 2% weekly range.
The market continues to hold near its upper range, sitting approximately 1.5% below the all-time highs established a few weeks ago.