U.S. Futures, Global Markets Mixed; U.S. Jobs Data Eyed

Asian equities are expected to open weakly following a lackluster session on Wall Street, where tech stocks and bonds faced pressure, and Bitcoin's recovery stalled ahead of the Federal Reserve's upcoming decision on interest rates.

Amanda Lynam, head of macro credit research at BlackRock, indicated that the Federal Reserve may have 'one or two' more interest rate cuts left, addressing concerns surrounding the private credit market during an interview with Romaine Bostick on Bloomberg.

The Dow Jones Industrial Average experienced a decline, while smaller stocks showed resilience amid mixed economic signals, including rising bond yields in the U.S. and Japan and an unexpected drop in weekly American jobless claims.

Humana, a leading health insurance company, is in discussions with Mark Cuban’s Cost Plus Drugs to explore a partnership aimed at reducing prescription drug costs for employers in the United States. This collaboration seeks to address the rising expenses associated with medications, which have become a significant concern for many businesses and their employees.

The U.S. job market is experiencing troubling signs as the unemployment rate rose to 4.3% for the third consecutive month, with only 22,000 new jobs added in August, according to the Bureau of Labor Statistics. This trend reflects ongoing challenges in the labor market, raising concerns about economic stability.

US stocks experienced small gains on Thursday, buoyed by stronger-than-expected jobs data, which did not alter expectations for a Federal Reserve rate cut next week. Meta's stock surged due to budget cuts, reflecting a positive response from investors.

Treasuries experienced a decline as new jobless claims in the US unexpectedly fell to their lowest level since 2022, indicating a tightening labor market ahead of the Federal Reserve's upcoming rate decision. This drop in claims suggests that employers are retaining workers despite economic uncertainties.

U.S. weekly jobless claims have fallen to a three-year low of 191,000, indicating a tightening labor market as claims decreased by 27,000 from the previous week. This significant drop suggests that employers are retaining workers despite recent layoffs, reflecting a positive trend in employment stability.