US STOCKS SNAPSHOT-S&P 500 futures pare gains after strong jobs report

Futures tracking the S&P 500 pared gains on Friday after a stronger-than-expected jobs report dampened hopes that the U.S. Federal Reserve could start cutting interest rates early this year. Economists had forecast a rise to 3.8%.

Futures tracking the S&P 500 pared gains on Friday after a stronger-than-expected jobs report dampened hopes that the U.S. Federal Reserve could start cutting interest rates early this year. A Labor Department report showed non-farm payrolls rose by 353,000 in January, compared with 180,000 expected by economists polled by Reuters.

Unemployment rate stayed steady at 3.7% in January from the month before. Economists had forecast a rise to 3.8%. At 8:32 a.m. ET, Dow e-minis were down 81 points, or 0.21%, S&P 500 e-minis were up 12.5 points, or 0.25%, and Nasdaq 100 e-minis were up 100.25 points, or 0.57%.