S&P 500 Futures gained 0.2% to 6,503.0 points, Nasdaq 100 Futures added 0.4% to 23,771.25 points, while Dow Jones Futures advanced 0.2% to 45,547.0 points

U.S. stock futures rise after a mildly negative Friday session, as weaker-than-expected nonfarm payrolls data ramped up bets on a September rate cut by the country’s central bank. But the figures also showed a sharp decline in the labor market, raising concerns over a U.S. recession.

S&P 500 Futures gained 0.2% to 6,503.0 points, while Nasdaq 100 Futures added 0.4% to 23,771.25 points by 23:25 GMT. Dow Jones Futures advanced 0.2% to 45,547.0 points.

Nonfarm payrolls data for August showed the U.S. economy created far fewer jobs than expected, as local businesses grappled with President Donald Trump’s increased trade tariffs.

Unemployment also increased as expected.

The figure pushed up concerns over cooling U.S. economic growth, especially amid increased disruptions stemming from Trump’s tariffs. A bulk of the president’s levies took effect from August.

But losses in Wall Street were limited as the payrolls data also firmed bets on a September rate cut by the central bank. The bank had earlier indicated that a sustained cooling in the labor market will open the door for more easing this year.

Fed fund futures prices showed markets pricing in a 91.7% probability the Fed will lower rates by 25 bps during its September 16-17 meeting. Markets were also pricing in a 8.3% probability for a 50 bps cut, according to CME Fedwatch.

Focus this week is squarely on consumer price index (CPI) inflation data for August, due on Thursday.

The figure is expected to reflect some of the inflationary effects of Trump’s tariffs, given that a bulk of them took effect last month. Trump’s tariffs are expected to be borne by U.S. importers– a trend that could underpin local inflation.

Producer price index (PPI) inflation data is also due this week.

While the inflation data is unlikely to factor into the central bank’s September rate decision, it is likely to affect the bank’s stance towards future easing. The bank has repeatedly warned that inflationary risks from Trump’s tariffs could delay future rate cuts.