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* Futures down: Dow 0.34%, S&P 0.39%, Nasdaq 0.35%
By Medha Singh
Oct 4 (Reuters) - U.S. stock index futures retreated on
Friday ahead of a crucial jobs report in a dismal week for
markets roiled by bleak economic data that raised fears of the
world's biggest economy sliding into a recession.
The Labor Department's report, due at 8:30 a.m. ET (1230
GMT), is expected to show nonfarm payrolls increased by 145,000
jobs in September after gaining 130,000 in August, according to
a Reuters survey of economists. The S&P 500 and Dow Jones are headed for their worst week in
two months following economic reports that indicated a dramatic
contraction in U.S. factory activity and a softer-than-expected
increase in private sectors jobs.
Wall Street's main indexes initially fell by 1% for the
third day in a row on Thursday after weak services data, but
rebounded on increased bets of a third interest rate cut by the
U.S. Federal Reserve.
Traders now see an 87% chance of a quarter point reduction
in rates at the Fed's October policy meeting and expect a fourth
cut before the end of the year.
Facebook FB.O fell 0.5% premarket amid pressure from the
United States and its allies to not proceed with end-to-end
encryption across its messaging services unless law enforcement
officials have backdoor access. Industrial conglomerate 3M MMM.N edged 0.2% lower after
Barclays cut the stock's price target.
At 7:09 a.m. ET, Dow e-minis 1YMcv1 were down 88 points,
or 0.34%. S&P 500 e-minis EScv1 were down 11.25 points, or
0.39% and Nasdaq 100 e-minis NQcv1 were down 26.5 points, or
0.35%.
In a bright spot, shares of Apple Inc AAPL.O rose 1.2%
after reports that the company would ramp up production of
iPhone 11.