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Oct 3 - U.S. stock index futures dipped on Thursday as markets awaited labor data for clues on the economic outlook and the likelihood of further interest-rate cuts from the Federal Reserve, while watching for a potential escalation in Middle East hostilities.
"Should official jobs report confirm the notion of a decently performing market, equities could rebound, even if this means fewer Fed rate cuts down the road." Dow E-minis were down 143 points, or 0.34%, U.S. S&P 500 E-minis were down 16 points, or 0.28% and Nasdaq 100 E-minis were down 77 points, or 0.38%.
Investors will also assess comments from Fed policymakers Raphael Bostic and Neel Kashkari later in the day. Richmond Fed President Thomas Barkin said on Wednesday that inflation cooling to the Fed's 2% target could take longer than expected, limiting the magnitude of further rate cuts next year. Among premarket movers, oil stocks such as Occidental Petroleum , and Exxon Mobil , were little changed, although crude prices rose more than 1%.
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