Dow futures down 100 points after November jobs report surpasses expectations

U.S. stock futures are sliding Friday after November jobs data came in slightly hotter than expected, pushing back against the market’s expectations that the Federal Reserve could cut interest-rates as many as five times next year. S&P 500 futures
ES00,
-0.35%
fell by 19 points, or 0.4%, to 4,569. Dow Jones Industrial Average
YM00,
-0.28%
futures were off by 120 points, or 0.3%, to 36,395. Futures on the Nasdaq-100
NQ00,
-0.65%
were off by 113 points, or 0.7%, to 16138. The U.S. economy added 199,000 jobs in November, surpassing economists’ forecasts for 190,000 jobs. The boost was helped by the conclusion of major auto-industry strikes, according to Barron’s.