U.S. jobs report due; Nike falls, ON Semi and Synaptics rise premarket
Nonfarm payrolls are expected to rise about 90,000 at 8:30 a.m. ET, with unemployment seen at 4.1% and wage growth around 3.2% YoY. Premarket, Nike is down roughly 10% after disappointing revenue and guidance, while ON Semiconductor is up about 6% and Synaptics is up about 14% after a revised $5.7 billion acquisition agreement.
2% YoY. Factory orders are due at 10:00 AM, and Dallas Fed President Lorie Logan is also scheduled to speak today. Premarket, Nike is down roughly 10% after disappointing revenue and guidance. 7 billion acquisition agreement.
The jobs report is the key catalyst. A softer reading could further reduce expectations for an October Fed hike and support stocks, while a stronger-than-expected report could push Treasury yields back toward recent highs and renew pressure on equities.