Five Software Stocks Rise; Futures Mixed Before Jobs Report
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- S&P 500 and Dow futures traded muted ahead of the July jobs report, while chip and software stocks rose in pre-market action according to Reuters.
- JPMorgan warned that a solid nonfarm payrolls report could spark a stock selloff, even as Airbnb earnings and fuel prices sat on the morning's calendar per CNBC.
Why it matters: With index futures flat but software and chip names bid up, sector-level rotation is already underway ahead of the macro print — and JPMorgan's flag that even a 'good' jobs number could trigger selling shows how inverted the market's reaction function has become for this release.
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