S&P 500 futures fall after August jobs data

U.S. stock index futures tracking the benchmark S&P 500 turned negative on Friday following the release of much stronger-than-expected August employment figures. According to data published by the Department of Labor, nonfarm payrolls expanded by 162,000 jobs during the month, vastly exceeding consensus forecasts of 56,000 additions expected by economists polled by Reuters. Meanwhile, the headline unemployment rate held steady at 4.1%, which matched consensus expectations.The unexpectedly solid labor market data prompted a swift retreat in equity futures, as traders recalibrated their expectations regarding Federal Reserve monetary policy path and potential interest rate cuts. Following the announcement at 08:33 a.m. ET, Dow E-minis declined by 152 points, or 0.28%, and S&P 500 E-minis shed 17.25 points, or 0.22%. In contrast, Nasdaq 100 E-minis displayed slight relative strength, gaining 20.75 points, or 0.07%, reflecting mixed risk sentiment across asset classes.