Stock futures rise after jobs data, unemployment rate dip

Where to put your money in today’s market

Federated Hermes senior portfolio manager Linda Bakhshian shares her stock picks and market predictions.

U.S. stock futures were modestly higher Friday morning as traders digested the May jobs report.

Dow Jones Industrial Average futures were higher by down 75 points, or 0.22%, while S&P 500 futures and Nasdaq 100 futures edged up 0.3% and 0.38%, respectively. 

May nonfarm payrolls showed the U.S. economy added 559,000 jobs last month, lighter than expected, as the unemployment rate slipped to 5.8%, a fresh pandemic low.  

In stocks, the E.U. and U.K. have opened an antitrust investigation into whether Facebook Inc. used its classified-ads service Marketplace to repurpose advertiser data for its own illegal advantage.

AMC Entertainment CEO Adam Aron said in an interview with Trey’s Trades channel on YouTube that he would like to sell up to 25 million more shares. The sale, if approved, would not be allowed to happen until next year. Aron said AMC now has $2 billion in cash. 

Ford Motor Co. shares were higher for a second day and at a six-year high after the automaker said on Thursday that it plans to introduce an entry-level pickup truck to its lineup next week.  

In earnings, e-signature vendor Docusign Inc. reported earnings and revenue that easily outpaced Wall Street estimates and guided sales for the current quarter above expectations. 

In commodities, West Texas Intermediate crude oil climbed 27 cents to $69.08 per barrel and gold slipped 10 cents to $1,873.20 an ounce. 

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Overseas markets were quiet. 

In Europe, Britain’s FTSE 100 lost 0.09% while Germany’s DAX and France’s CAC were both higher by 0.03%. 

China’s Shanghai Composite outperformed in Asia, ticking up 0.21%, while Hong Kong’s Hang Seng index declined 0.17% and Japan’s Nikkei 225 fell 0.4%.  

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