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US Stock Futures Steady, Focusing on Non-Farm Payrolls, Gamestop Rises by Investing.com

Investing.com — U.S. stock index futures moved little in evening deals Thursday, following a muted session on Wall Street as investors hunkered down for key payroll data that will likely play a role in interest rates.

Meme stock GameStop Corp (NYSE:) was an exception, delivering strong gains in aftermarket trading after influencer Keith Gill said he will host a livestream on Friday.

Still, Wall Street indexes remained near record highs this week as soft economic data ahead of Friday raised expectations that the Federal Reserve will feel more confident about starting to cut rates soon.

remained steady at 5,364.0 points, while rising 0.1% to 19,076.25 points at 7:06 PM ET (23:06 GMT). remained stable at 38,970.0 points.

Nonfarm payrolls end week of weak data

May data will be released on Friday and is expected to show that labor costs rose slightly this month, reflecting continued strength in the labor market.

But a series of other readings this week suggested the labor market was cooling. fell, but also lower than expected.

In addition to inflation, the labor market is also an important consideration for the Fed when lowering interest rates.

Investors saw expectations that the Fed would step in quickly increase after the weak data.

The Fed is expected to leave interest rates unchanged. But the anticipation of the meeting is also expected to play a role in the market’s caution.

Wall St is approaching record highs and heading for weekly gains

Wall Street indexes closed mediocre on Thursday amid some profit-taking by the beloved NVIDIA Corporation (NASDAQ:) and as investors waited for more definitive signals on interest rates.

The price remained stable at 5,352.96 points, while the price fell by 0.1% to 17,170.64 points. Both indices rose 1.4% and 2.6% respectively this week after hitting record highs on Wednesday.

The index rose 0.2% to end Friday at 38,886.17 points, but lagged its peers this week with a gain of 0.5%. It also remained well below record highs from earlier in May.

Aftermarket movers: Gamestop expands profits, Docusign falls

Among the big aftermarket movers, meme stock Gamestop rose about 26%, after surging more than 47% during the session. Influencer Keith Gill, aka “RoaringKitty,” who sparked 2021’s memestock mania, said he will host a livestream on YouTube this Friday — his first in nearly four years.

Gill had revealed last Sunday that he owned about 5 million shares and 120,000 call options in the video game retailer – a position now worth at least $200 million.

Software company DocuSign Inc (NASDAQ:) fell 6% after disappointing second-quarter expectations even as it beat expectations on first-quarter earnings.