Futures pare gains after strong jobs data

(Reuters) - U.S. stock index futures dipped lower on Friday, after a Labor Department report showed U.S. job growth rebounded sharply in October and wages recorded their largest annual gain in nine-and-a-half years.

The data pointed to further labor market tightening, raising concern around a faster pace of interest rate hikes by the Federal Reserve.

At 8:35 a.m. ET, Dow e-minis were up 172 points, or 0.68 percent. S&P 500 e-minis were up 13.75 points, or 0.5 percent and Nasdaq 100 e-minis were down 16.75 points, or 0.24 percent.

Minutes ahead of the data, Dow e-minis were up 0.91 percent, S&P 500 e-minis were up or 0.69 percent and Nasdaq 100 e-minis were down 0.06 percent.

 

(Reporting by Shreyashi Sanyal in Bengaluru)