Stock futures and bitcoin slip, Treasury yields climb, as hot jobs report raises more questions about Fed rate cuts

A hotter-than-expected jobs report pushed Treasury yields higher and sent stock futures lower during Friday's holiday session, increasing doubt that the Fed will deliver an interest-rate cut this year. The surprise payroll strength prompted a risk-off market reaction as investors trimmed odds of easing, lifting yields and weighing on equity futures.

Analysis

A hotter-than-expected jobs report pushed Treasury yields higher and sent stock futures lower during Friday's holiday session, increasing doubt that the Fed will deliver an interest-rate cut this year. The surprise payroll strength prompted a risk-off market reaction as investors trimmed odds of easing, lifting yields and weighing on equity futures.