S&P 500 futures were stable Thursday night as investors awaited the July jobs report. The Dow Jones lost more than 460 points, ending a five-session winning streak, while tech stocks like Airbnb and Cloudflare rallied after their earnings releases. The market remains optimistic despite this pullback, thanks to hopes of easing oil prices and a rebound in semiconductors. Economists forecast only 83,000 job gains in July with unemployment steady at 4.2%. The Nasdaq could post its best weekly performance since May, with the semiconductor sector up more than 5%.
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