Markets Down Ahead of Key US Jobs Report [Video]

Financial markets were down on Tuesday ahead of a key U.S. jobs report that is expected to influence the Federal Reserve’s decision to start lowering interest rates.

Futures for the S&P 500 and the Dow Jones Industrial Average were each down 0.5% before the bell.

Analysts suggest that if the report shows rising unemployment, there could be concerns about the growth of the economy.

“It is shaping up to be a significant litmus test. A stronger-than-expected payroll number, paired with a lower unemployment rate, could inject some much-needed confidence into the market, signaling that growth risks might be easing, at least for now,” said Stephen Innes, analyst at SPI Asset Management.

“If the report disappoints, especially if it pushes the unemployment rate higher, we could quickly see growth concerns flare up …