Stock Market Today: Dow Jones, S&P 500 Futures Tumble As Payrolls Edge Down 92K— Marvell Technology, Gap, Oracle In Focus (UPDATED) – State Street SPDR S&P 500 ETF Trust (ARCA:SPY)

(Editor’s note: The future prices of benchmark tracking ETFs, the lede, the economic data, and the headline were updated in the story.)

U.S. stock futures fell on Friday following Thursday’s negative close. Futures of the major benchmark indices were lower amid the ongoing Iran-US conflict.

The February U.S. employment report showed total nonfarm payrolls edged down by 92,000, falling short of the modest gains anticipated by economists. Despite the dip in payrolls, the unemployment rate held relatively steady at 4.4%. On the inflation front, average hourly earnings for private nonfarm workers rose by 0.4% to $37.32 in February, bringing the year-over-year increase to 3.8%.

Meanwhile, the 10-year Treasury bond yielded 4.17%, and the two-year bond was at 3.61%. The CME Group’s FedWatch tool‘s projections show markets pricing a 97.3% likelihood of the Federal Reserve leaving the current interest rates unchanged in March.