US stock index futures fell on Friday after stronger-than-expected Nonfarm Payrolls data signaled that the labor market remained strong, dampening hopes for an interest rate cut from the Federal Reserve in September.
The Labor Department reports Nonfarm Payrolls increased by 272,000 jobs in May, compared to expectations for an increase of 185,000.
Average hourly earnings rose 0.4% month-on-month, compared to expectations for growth of 0.3%. The unemployment rate rose to 4% compared to the forecast of 3.9%.
Earlier, the Dow e-minis were down 149 points, or 0.38%, the S&P 500 e-minis were down 16.75 points, or 0.31%, and the Nasdaq 100 e-minis were down 35 points, or 0.18%. On the other hand, the US dollar index jumped up against six major currencies with a strengthening of 0.60% to a trading level of 104.685
