S&P 500 Futures gained 0.1% to 6,516.50 points, while Nasdaq 100 Futures added 0.2% to 23,711.25 points

 U.S. stock index futures rose on Thursday evening as increasing signs of a cooling labor market fuelled bets that the country’s central bank will cut interest rates this month, boosting sentiment.

Focus was now on upcoming nonfarm payrolls data, due on Friday morning, for more definitive cues on employment. Futures rose after a largely positive session on the stock market, where the S&P 500 hit a new high.

S&P 500 Futures gained 0.1% to 6,516.50 points, while Nasdaq 100 Futures added 0.2% to 23,711.25 points by 23:22 GMT. Dow Jones Futures were flat at 45,693.0 points.

Some positive earnings also aided sentiment. Server chips maker Broadcom Inc advanced 4% in aftermarket trade on strong quarterly earnings. Samsara Inc gained 8% on strong earnings, while DocuSign Inc rose 6% on similar news.

Nonfarm payrolls data for August is due at 12:30 GMT on Friday, and is expected to show growth in the number of people employed remaining weak in August after slowing sharply in the previous month.

The figure comes at the heels of several other weak prints on the labor market this week, after JOLTS job openings data underwhelmed and initial jobless claims rose more than expected.

The data was also accompanied by a host of central bank members stating that a cooling labor market does open the door to more interest rate cuts by the bank. Chair Jerome Powell had expressed a similar view in August.

This saw markets sharply ramp up bets that the bank will lower rates at its September meeting. Fed fund futures showed markets pricing in a 96.4% probability for a 25 bp cut during the bank’s Sept 16-17 meeting, according to CME Fedwatch.

Lower rates stand to boost economic growth while also releasing more liquidity into markets.