September S&P 500 E-Mini futures (ESU25) are down -0.93%, and September Nasdaq 100 E-Mini futures (NQU25) are down -1.03% this morning as U.S. President Donald Trump’s sweeping import tariffs fueled concerns about the outlook for economic growth.
Nonfarm Payrolls: The latest figures suggest a potential weakening in the U.S. job market, as July saw fewer nonfarm payroll additions than anticipated, with only 73,000 new jobs, falling short of the 100,000 forecast. This was compounded by substantial downward revisions to the job growth numbers for May and June, totaling a combined 258,000 fewer positions than previously reported. Concurrently, the unemployment rate edged up to 4.2%, which was in line with expectations.
