Wall Street Awaits Fed's Move Amid Mixed Jobs Data

Wall Street anticipates a cautious Federal Reserve approach to interest rates after mixed jobs data from the Labor Department. The U.S. economy added fewer jobs than expected, but the unemployment rate was lower than forecasts. Market indices showed minor gains amidst varying corporate performances.

Wall Street is bracing for a subdued opening as investors speculate on the Federal Reserve's response to the latest U.S. employment figures. The economy added 143,000 jobs in January—short of the 170,000 projection—reducing unemployment to 4%, slightly better than expected. Average earnings also rose 0.5%.

While the revised December job figures showed an increase, investor confidence remains tentative. "It's not a negative outcome, but it doesn't signal a strong buy either," noted Baird's investment strategist Ross Mayfield. Traders are betting on a rate cut in June, given current economic conditions.

Market movements were varied; Amazon saw a premarket decline due to AWS concerns, while giants like Pinterest soared. Economic sentiment ahead of Federal Reserve actions remains cautiously optimistic but awaits further data for definitive directions.

(With inputs from agencies.)