U.S. stock futures rose on Friday as traders prepared to return from the break over the 4th of July holiday.
Futures for the Dow Jones Industrial Average were up 58 points, or 0.2%. S&P 500 futures rose 0.1%, and contracts tracking the tech-heavy Nasdaq added 0.2%.
While markets are having to cope with some political uncertainty amid speculation that incumbent Joe Biden may drop out of the presidential race, optimism about company earnings and the prospect of lower interest rates are providing support. Fresh data on the U.S. labor market today will add color to the outlook for the economy.
“Stock futures seem for now to be shaking off this fresh uncertainty about who will be in the race for the White House,” said Susannah Streeter, head of money and markets at Hargreaves Lansdown. “Right now, investors are much more focused on the upcoming key monthly jobs data.”
Bond yields were falling back early Friday. The yield on the benchmark 10-year U.S. Treasury bond was at 4.359%. The yield on the 2-year note was at 4.7%.