US Stocks Point To Higher Open; Jobs Data, Unemployment Figure Watched

 @arjunkashyapa.kashyap@ibtimes.com
on January 10 2014 6:01 AM
NYSE_Holidays
The exterior of the New York Stock Exchange is reflected in a Christmas ornament in New York on Dec. 23, 2013. Reuters/Carlo Allegri

Stock futures on US indexes Friday morning hinted at a positive opening but jobs data and the unemployment number, which are due before markets open, could have a bigger say on how trading progresses through the day.

Futures on the Dow Jones Industrial Average were up 0.25 percent while futures on the S&P 500 were up 0.25 percent and those on the Nasdaq 100 were up 0.42 percent.

“The labour market probably finished 2013 on a reasonably strong note,” a note from Capital Economics said, projecting the payroll number to increase by 200,000 in December. “That probably left the unemployment rate at 7.0%,” the report added.

The unemployment rate dropped to 7 percent in November -- the lowest level in five years -- from 7.3 percent in October. The data is scheduled to be released at 8:30 a.m. EST.

In Europe, stocks were trading significantly higher following the ECB’s decision on Thursday to leave monetary policy unchanged. The Stoxx Europe 600 index was up 0.5 percent and the FTSE 100 was up 0.75 percent. Germany’s DAX-30 was up 0.55 percent while France's CAC-40 was up 0.43 percent.

In Asia, markets were mixed with Japan’s Nikkei gaining 0.2 percent while Australia’s S&P/ASX 200 ended down 0.23 percent. The Shanghai Composite index was down 0.71 percent while Hong Kong’s Hang Seng index rose 0.26 percent. South Korea’s Kospi was down 0.39 percent and India’s BSE Sensex gained 0.22 percent.

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