Dow Gains 26 Points Because Jobs Report Is More Important Than Amazon

6:48 a.m. The Dow Jones Industrial Average appears set for a flat open. The same can’t be said for the Nasdaq Composite.

Dow futures have ticked up 26 points, or 0.1%, while S&P 500 futures have dipped 0.1%, and Nasdaq futures have dropped 0.5%.

The Nasdaq is getting hit by (AMZN), which has dropped 4.6% to $1,640 after reporting earnings. The earnings weren’t so bad. In fact Amazon’s profit and sales easily topped expectations. Its guidance, however, fell short of predictions.

Amazon’s impact on the S&P 500 is smaller, it is nonexistent for the Dow, which doesn’t contain the e-commerce titan. Their direction could be determined by January’s payrolls report, due this morning at 8:30. A solid report-a 180,000 increase in new jobs is expected-would indicate that the U.S. economy is still going strong. Too big an increase, though, and the Fed’s pause on interest rate hikes could be shorter than the market thinks. A big disappointment could rekindle recession fears.

And that will ultimately be more important than any one earnings report, even Amazon’s.

Write to Ben Levisohn at

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Referenced Symbols: AMZN

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