(Reuters) – U.S. stock index futures extend losses on Friday after strong U.S. jobs data underscored tightening labor market conditions and cemented expectations for the Federal Reserve increasing interest rates further.
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 31, 2018. REUTERS/Brendan McDermid
U.S. job growth accelerated in August, with wages notching their largest annual increase in nine years, the Labor Department said, strengthening views the economy was so far weathering an escalating trade war with China.
At 8:31 a.m. ET, Dow e-minis were down 83 points, or 0.32 percent. S&P 500 e-minis were down 8.5 points, or 0.30 percent and Nasdaq 100 e-minis were down 30 points, or 0.40 percent.
Ahead of the data, Dow e-minis were down 53 points, or 0.20 percent. S&P e-minis were down 4.5 points, or 0.16 percent and Nasdaq were down 16.25 points, or 0.22 percent.
Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak Dasgupta