US stocks struggling for direction despite of strong April jobs data

On the last trading day of the week, major US equity indices witnessed mixed opening as investors digested details of the monthly jobs report. 

Although the headline NFP print surpassed expectation, which continued reflecting the underlying strength in the US labor market, investors seemed disappointed by slowing yearly wage growth rate. Meanwhile, volatility in oil prices continued weighing on energy stocks and kept a lid on the markets. 

At the time of writing, the Dow Jones Industrial Average was down 10-points to 20,940, while the broader S&P 500 Index was up around 4-points to 2,393. Meanwhile, tech-heavy Nasdaq Composite Index added over 11-points and rose to 6,086.

With the key US macro data out of the way, investor now shift their attention to a slew of speeches by influential FOMC members, including the Fed Chair Janet Yellen. Today's upbeat headline NFP print increasing odds for an eventual Fed rate-hike action in June and hence, investors would closely scrutinize the comments for clues on the central bank's intension to reduce the size of its balance sheet.