U.S. shares were down today, with futures for the S&P 500 and the Dow Jones Industrial Average both falling 0.4%, according to the Associated Press.
On Friday, the S&P 500 climbed 0.9% and got close to its all-time high. The Dow gained 0.8%, and the Nasdaq climbed 1.2%.
Recent encouraging data on the economy have raised hopes that the job market will hold up after the Fed pressed the brakes on the economy through higher rates in order to stamp out high inflation.
The Fed has begun cutting interest rates, and Friday’s jobs report was so strong traders are now forecasting it will not deliver another half-point interest rate cut before the end of the year after doing so in September.
After slight losses earlier in the day, U.S. benchmark crude oil was up $1.26 at $75.64 per barrel, while Brent crude, the international standard, picked up $1.09 to $79.14 per barrel.
The dollar was trading at 148.34 yen, down from 148.72 late Friday.
