Nasdaq-100 Futures Rise 0.4% as Traders Await 53,000 August Jobs Report

3 articles · Updated · CNBC · Sep 2

Nasdaq-100 futures gained 0.4% early Friday, while Dow futures slipped 0.06% and S&P 500 futures edged up 0.04% ahead of the August payrolls release.
53,000 jobs are expected to have been added in August, with unemployment seen at 4.1%, after July showed a 23,000 job loss that sharpened focus on labor-market weakness.
Thursday's cash-session rally followed a pullback in Treasury yields after Fed Governor Christopher Waller said he would be inclined to hold rates at 3.5% to 3.75% on Sept. 15-16.
Barclays still sees another Fed hike as the base case, but said Friday's jobs data and next week's CPI could shift policy expectations if they surprise to the downside.
The major indexes are still headed for weekly gains—up 0.5% for the S&P 500, 0.7% for the Nasdaq and 0.2% for the Dow—after earlier pressure from Iran-related inflation fears.

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10 Sources

As oil spikes and job growth stalls, is the Fed walking into an inflation trap that could derail the market?

Can the massive AI tech boom survive a world where geopolitical energy shocks push Treasury yields past the breaking point?

If the Strait of Hormuz shuts down, how quickly will global emergency reserves run dry before true panic sets in?

September 2026 US-Iran War: Military Escalation, Oil Shock, and Global Economic Fallout

Overview

In September 2026, the collapse of the US-Iran Memorandum of Understanding triggered a rapid return to military conflict, starting with US strikes on Iranian assets and escalating into major retaliatory attacks by Iran. This renewed hostilities led to a strict US naval blockade and Iranian threats in the Strait of Hormuz, causing global oil prices to surge and prompting Fitch Ratings to downgrade global growth forecasts. The resulting spike in bond yields pushed up borrowing costs, including US mortgage rates, while Federal Reserve signals of tighter policy fueled expectations of an interest rate hike. Meanwhile, massive corporate borrowing for AI investments and new US sanctions on Chinese entities further strained US-China relations, deepening global economic and political uncertainty.

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