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S&P futures turn positive after payrolls data
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(Reuters) — Futures for the S&P 500 turned positive on Friday after an uptick in the unemployment rate and slowing wage growth boosted expectations that the Federal Reserve could begin cutting interest rates by the middle of this year.
The unemployment rate rose to 3.9% against expectations it would remain steady at 3.7% while average hourly earnings rose 0.1% on a monthly basis compared to expectations of 0.3% growth.
The Labor Department's report also showed non-farm payrolls rose by 275,000 jobs last month, against expectations of an increase of 200,000.
At 8:32 a.m. ET, Dow e-minis were down 23 points, or 0.06%, S&P 500 e-minis were up 9.5 points, or 0.18%, and Nasdaq 100 e-minis were up 25.5 points, or 0.14%.
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