U.S. stock futures pared some gains on Wednesday, but kept Wall Street on track to open higher, after weaker-than-expected private U.S. jobs data, raising the odds that the Federal Reserve would not raise interest rates this month.
The U.S. Federal Reserve will probably raise interest rates twice this year, with the first increase in almost a decade coming as early as next month, according to a Reuters poll of economists published on Thursday.
Intercontinental Exchange Inc's NYSE Group, which includes the New York Stock Exchange, said on Wednesday that it temporarily suspended trading in all of securities on its exchanges following earlier reports of technical difficulties.
The Dow Jones Industrial Average capped the worst week since 2011, finishing with a 100-point lurch in the final half-hour of trading, as equities tumbled around the world after crude extended declines below $58 a barrel.
A drive to update plants and equipment is propelling gains in business investment that will probably keep American factories busy even as consumer spending shows signs of cooling. Better wage growth could broaden household purchases beyond automobiles and help sustain the pickup in manufacturing.
The labor market has shown signs of strength this year, with employers adding more than 200,000 jobs for the last six months -- the first time that’s happened since 1997. Payrolls grew by 209,000 last month, while the unemployment rate rose to 6.1 percent as more people entered the labor force.