Key facts
- U.S. nonfarm payrolls increased by 162,000 in August, exceeding economists' expectations.
- The unemployment rate remained at 4.1%, in line with forecasts.
- S&P 500 futures turned negative following the jobs data release.
- The Dow Jones Industrial Average fell 101.2 points at the open.
- The S&P 500 and Nasdaq Composite opened with slight gains.
Futures tracking the S&P 500 index turned negative on Friday after a Labor Department report indicated that the U.S. economy added more jobs than anticipated in August. The report showed nonfarm payrolls rose by 162,000 last month, surpassing the 56,000 additions economists surveyed by Reuters had expected. The unemployment rate held steady at 4.1%, meeting expectations. At 08:33 a.m. ET, Dow E-minis were down 152 points (0.28%), S&P 500 E-minis were down 17.25 points (0.22%), and Nasdaq 100 E-minis were up 20.75 points (0.07%). Wall Street's main indexes were muted at the open on Friday after the jobs reading prompted investors to amplify bets the Federal Reserve could hike interest rates this month. The Dow Jones Industrial Average fell 101.2 points, or 0.19%, at the open to 53,584.89. The S&P 500 rose 2.5 points, or 0.03%, at the open to 7,750.19, while the Nasdaq Composite rose 3.8 points, or 0.01%, to 26,587.896.