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US stock futures extend declines after May non-farm payrolls data

BY Reuters | ECONOMIC | 08:38 AM EDT

June 5 (Reuters) - U.S. stock index futures extended declines on Friday after a stronger-than-expected jobs report further fueled expectations for the Federal Reserve to hike interest rates this year.

A Labor Department report showed the U.S. economy added 172,000 jobs last month, compared with economists' estimates for a rise of 85,000. The unemployment rate stood at 4.3%, in-line with expectations of 4.3%.

At 08:32 a.m. ET, Dow E-minis were down 17 points, or 0.03%, S&P 500 E-minis were down 47.75 points, or 0.63%, and Nasdaq 100 E-minis were down 406.75 points, or 1.33%.

(Reporting by Twesha Dikshit; Editing by Shinjini Ganguli)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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