US futures tick higher as September jobs report looms

United States equity futures traded slightly higher on Thursday night (Friday AEST) as traders awaited the release of September’s jobs report.

By 10 am AEST (12 am GMT), Dow futures and S&P 500 futures had gained 0.1% apiece, while Nasdaq-100 futures lifted 0.2%.

During regular trade, the Dow Jones Industrial Average rose 0.04%, the S&P 500 gained 0.2%, and the Nasdaq Composite added 0.04%.

Treasury yields climbed to multi-year highs before retreating. The benchmark 10-year Treasury note yield surged to 5.344%, its highest level since 2002, while the yield on the 30-year Treasury bond also reached its highest level in 24 years.

September’s nonfarm payrolls report will be in focus on Friday, with markets expecting job growth of 90,000 and the unemployment rate to remain steady at 4.1%.

The report comes as traders reassess the Federal Reserve’s next move. Fed funds futures indicate a 24.9% chance that the central bank will raise interest rates in October, according to the CME Group FedWatch Tool.