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A take a look at the day ahead in U.S. and global markets from Mike Dolan Another projection miss from a U.S. megacap combines with caution ahead of January's work report to keep a lid on stocks into Friday's open - with buoyant long-dated Treasuries squashing the yield curve to its flattest for the year.

Similar to Microsoft and Alphabet over the previous couple of weeks, Amazon dissatisfied Wall Street late Thursday as concern about cloud computing splashed income and earnings forecasts and sent its stock down 4% overnight.

The current underwhelming outlook from the "Magnificent 7" top U.S. tech firms control an otherwise positive S&P 500, with questions about heavy invests in artificial intelligence ignited again by the advancement of China's inexpensive DeepSeek design.

The DeepSeek buzz, by contrast, continues to fire up Chinese stocks. They included another 1%-plus earlier on Friday regardless of ongoing concerns about a mounting Sino-U.S. trade war and Monday's deadline for Beijing's vindictive tariffs.

But the day's macro events will likely take precedence, with the release of the January U.S. employment report and long-term modifications of past task creation.

Job growth likely slowed to 170,000 in January from just over quarter of million the previous month, partly restrained by wild fires in California and cold weather throughout much of the nation.

Those distortions add a further problem to the readout, which will consist of annual benchmark revisions, new population weights and online-learning-initiative.org updates to the seasonal modifications.

The week's sweep of other labor market reports, however, do point to some cooling of conditions - with task openings falling, layoffs rising and weekly unemployed claims ticking higher.

With the Federal Reserve already attempting to parse the impact of President Donald Trump's brand-new economic policies, links.gtanet.com.br payroll distortions just cloud the image even further.

And as Fed officials insist they can wait and see for a bit, Fed futures remain trained on two more interest rate cuts this year - resuming about midyear.

The Treasury market is more encouraged though - sustaining the early week's sharp drop in 10-year yields into today's tasks report and online-learning-initiative.org seeing the 2-to-10 year yield curve compress to the flattest it's remained in 6 weeks.

Helping the long end this week has actually been assuring signals from the Treasury's quarterly reimbursing report that a "describing out" of debt auctions to longer maturities is not yet in the works, as many had actually feared.

Treasury Secretary Scott Bessent has also insisted the brand-new federal government's focus would be on getting long-term rates down rather than pressing the Fed to alleviate prematurely.

Reuters analysis reveals Trump has actually put holds on 10s of billions of dollars in congressionally-approved spending for jobs across the U.S. that vary from Iowa soybean farmers adopting greener practices to a Virginia railway growth.

Bessent also doubled down on his view the administration wishes to retain a "strong dollar" policy. But he colored that with a sideswipe. "What we wear ´ t want is other countries to damage their currencies, to manipulate their trade."

But with the Fed on hold, main banks around the world continued reducing interest rates apace this week - partially on concerns a trade tariff war will compromise their economies.

With a sharp cut in its UK development projection, the Bank of England cut its policy rate by a quarter point on Thursday - with 2 of its policymakers electing a bigger half point reduction. Sterling weakened at first, but has actually steadied since.

bank also cut its rates of interest by 50 basis points on Thursday - saying it might cut by a similar magnitude in the future as inflation cools and after the economy contracted slightly late last year.

The European Reserve bank, meantime, setiathome.berkeley.edu is anticipated to release its updated price quote of what it views as a "neutral" rates of interest in the future Friday.

That is necessary as it informs the ECB argument about whether it needs to cut rates listed below what thinks about neutral to restore the flagging euro zone economy. It's presently seen around 2% - 75bps below the standing policy rate.

In thrall to the payrolls release, the dollar index was consistent on Friday. Dollar/yen briefly notched a new low for the year, nevertheless, as Bank of Japan tightening speculation simmers.

In Europe, stocks stalled near record highs as the heavy incomes season there unfolded.

Banks there have actually a been a standout winner today and again on Friday. Danske Bank, Denmark's most significant lender, was up 7.1% after it published record yearly profits and release a new share buyback programme.

Key developments that need to supply more direction to U.S. markets in the future Friday: online-learning-initiative.org * U.S. January work report, University of Michigan February customer study, funsilo.date December consumer credit; Canada Jan employment report; Mexico Jan inflation * European Reserve bank updates its price quote of "R *" neutral rate of interest * Federal Reserve Board Governors Michelle Bowman and Adriana Kugler speak; Bank of England Chief Economist Huw Pill speaks * U.S. business incomes: Cboe Global Markets, Fortive, Kimco Realty * Japan Prime Minister Shigeru Ishiba visits United States

(By Mike Dolan, editing by XXXX mike.dolan@thomsonreuters.com)