Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com

U.S. STOCK FUTURES TAKE LATEST JOBS DATA IN STRIDE

The main U.S. equity index futures are mixed, and little changed, after the release of the latest data on U.S. employment. E-mini S&P 500 futures EScv1 are now around flat vs a loss of around 0.1% just before the data came out. Yields, however, are rising.

The January nonfarm payroll headline jobs number came out at 143k vs the Reuters Poll calling for 170k. The prior headline jobs read for December was revised to 307k from 256k.

The January unemployment rate was 4.0% vs a 4.1% estimate.

Wage data, on a month-over-month, and year-over-year, basis was hotter-than-expected:

According to the CME's FedWatch Tool, the probability that the Fed sits on its hands and leaves its current target rate of 4.25%-4.50% unchanged at its March 18-19 FOMC meeting is now around 92% vs 86% just before the data was released. The chance that the FOMC cuts rates by 25 basis points is now around 8% vs 14%.

Looking out further into 2025, the market is showing a slight bias for the Fed's next 25 basis point cut to occur in June. After that, based on expectations, rates may then flat-line into year end.

The U.S. 10-Year Treasury Yield US10YT=RR is now around 4.49%. It was around 4.44% just before the numbers came out. The yield ended Thursday at 4.438%.

A majority of S&P 500 index .SPX sector SPDR ETFs are quoted up slightly in premarket trade. Communication services XLC.P and energy XLE.P, both up just over 0.3%, are posting the biggest rises.

With Amazon.com AMZN.O, off more than 2% ahead of the opening bell, consumer discretionary XLY.P, off around 0.6%, is taking the biggest hit.

The SPDR S&P regional banking ETF KRE.P is off around ~0.3%.

Regarding the jobs data, Adam Sarhan, chief executive at 50 Park Investments, in New York, said:

"Futures are pretty much where they were before the news came out. The jobs report wasn't too hot or too cold... this allows the market to breathe a sigh of relief."

Sarhan added, "At this stage in time, no news is good news for the market. For me, the market is extremely resilient, with all of the news we've had - political, economic and earnings."

February U Mich preliminary sentiment is due at 1000 EST. The estimate is for 71.1 vs 71.1 last month.

Here is a premarket snapshot from around 0853 EST:

(Terence Gabriel, Caroline Valetkevitch)

*****

FOR FRIDAY'S EARLIER LIVE MARKETS POSTS:

A GREY BRITISH OUTLOOK MIGHT MAKE SHORT SELLERS GRIN - CLICK HERE

GERMAN ELECTION: GET KENYA, BUY DOMESTIC - CLICK HERE

BOE'S DOVEISH VOTE SPLIT HIDES MORE NUANCED STORY - CLICK HERE

DEALS IN THE DRIVING SEAT - CLICK HERE

EUROPE BEFORE THE BELL: STOXX SET FOR SEVENTH WEEK OF GAINS - CLICK HERE

MORNING BID EUROPE - CHINA AI RALLY ROUSES TRADE WAR-WEARY MARKETS - CLICK HERE