Futures fall ahead of key jobs data, worries over elevated Treasury yields remain
© Reuters. FILE PHOTO:Traders work on the floor of the New York Stock Exchange in New York City, U.S., September 28, 2023. REUTERS/Brendan McDermid/File Photo - U.S. stock index futures fell on Thursday as investors awaited more data to gauge the strength of the labor market, while elevated Treasury yields still pointed to worries about high interest rates for a prolonged period.
Worries about U.S. government spending and its ballooning budget deficit have added to uncertainty around the interest rates trajectory, contributing to a steep selloff that have caused a rout in Treasury prices and a spike in yields.Following a mixed jobs reports earlier this week, focus will be on the more-comprehensive September non-farm payrolls data on Friday. Weekly jobless claims are also due later on Wednesday.
Federal Reserve policymakers including Cleveland's Loretta Mester, Minneapolis' Neel Kashkari, Richmond's Thomas Barkin, San Francisco's Mary Daly and Vice Chair for Supervision Michael Barr are set to speak during the day.
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