Dow futures fall 300 points, jobs report ahead in the US
Istanbul, August 2 (Hibya) - U.S. stock futures slid Friday as traders considered fresh quarterly results and looked ahead to a key July payrolls report. Dow Jones Industrial Average futures lost 317 points, or 0.8 percent. Futures tied to the S&P 500 fell 1.1 percent, and Nasdaq 100 futures dropped 1.8 percent.
Amazon slid 8 percent, missing Street’s estimates for second-quarter revenue and issuing a disappointing forecast. Intel cratered nearly 20 percent after announcing weak guidance and layoffs. Apple shares inched lower despite the iPhone maker posting a fiscal third-quarter earnings beat.
Friday’s pullback would build on a steep sell-off from the previous session. The Dow and S&P 500 each fell more than 1 percent on Thursday, while the Nasdaq slid 2.3 percent. Those declines sent ripples worldwide, with the Japanese Nikkei losing 5.8 percent overnight.
Friday brings a fresh set of data — and a new catalyst for stocks: July’s nonfarm payrolls. Economists polled by Dow Jones are calling for growth of 185,000 jobs, down from June’s gain of 206,000. The unemployment rate, which is especially important as traders search for signs of an impending recession, is expected to hold steady at 4.1 percent.
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