US stock futures dipped slightly on Friday after a strong rally, with investors eagerly awaiting the crucial monthly US jobs report that could impact the timing of interest-rate cuts. S&P 500 futures were down 0.1%, Dow Jones Industrial Average futures slid 0.4%, and Nasdaq 100 futures fell 0.2% following Thursday’s gains.
Federal Reserve Chair Jerome Powell’s comments about inflation being in the right place for rate cuts provided a boost to the market. Investors are now focused on the February jobs data, expected to show signs of cooling after last month’s surprising gains. The report will indicate whether the labor market’s strength could delay rate cuts.
In global markets, European Central Bank policymakers are considering a rate cut as inflation falls faster than expected, while Bank of Japan officials are contemplating lifting rates out of the negative zone.
On the corporate front, Costco shares slipped after a sales miss overshadowed an earnings beat. Broadcom’s revenue beat and AI-linked chip sales forecast failed to impress investors.
Gold futures continued to rally as spot gold eyed its biggest weekly jump in five months amid expectations of a mid-year Fed rate cut.
In other news, Costco is making waves with its unique offerings, including a new sushi business. The company’s unconventional approach has led to strong investor returns over the last five years. CFO Richard Galanti announced the launch of a sushi program, following the success of similar ventures in Asia. Costco’s ability to provide quality products at competitive prices continues to attract customers and drive growth.
