U.S. stock futures moved higher on Friday, with Nasdaq100 futures climbing about 2%, after new data showed the unemployment rate rising to its highest level since October 2021. The increase in joblessness was interpreted by traders as a sign that labor-market conditions may be cooling more quickly than expected.
The report also reinforced Chair Jerome Powell’s recent comments emphasizing that the Federal Reserve is watching unemployment more closely than headline job-creation numbers. A softer labor market could reduce inflationary pressure and increase the likelihood that the Fed holds off on additional tightening in the near term.
Despite broader economic uncertainty, the reaction in futures markets suggests investors are positioning for a potentially more supportive policy environment. Attention now shifts to upcoming inflation data and payroll revisions for confirmation of a sustained cooling trend.