Stock index futures rise, focus on jobs data
February 1, 2013 8:49 PM EST
Stock index futures pointed to a higher open on Wall Street on Friday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.4 to 0.5 percent.
U.S. job growth likely picked up modestly in January and the unemployment rate held steady, supporting views a sluggish economic recovery was on track despite a surprise contraction in the final three months of 2012.
Non-farm payrolls, due at 08.30 a.m. EST, are expected to have increased by 160,000 last month after rising 155,000 in December, according to a Reuters survey of economists. The jobless rate is expected to have held steady at 7.8 percent for a third straight month.
Information services company Markit releases U.S. final Markit Manufacturing PMI for January at 1358 GMT. The index read 56.1 in preliminary (flash) January release.
Thomson Reuters/University of Michigan Surveys of Consumers release final January consumer sentiment index at 145 GMT. Economists in a Reuters survey expect a reading of 71.5 compared with 71.3 in the preliminary January report.
The Institute for Supply Management releases its January manufacturing index at 1500 GMT. Economists in a Reuters survey expect a reading of 50.6, versus 50.2 in December.
The Commerce Department releases December construction spending data at 1500 GMT. Economists forecast a rise of 0.6 percent, compared with a 0.3 percent drop in November.
Bristol-Myers Squibb Co
Economic Cycle Research Institute releases its weekly index of economic activity for January 25 at 1530 GMT. In the prior week, the index read 130.6.
Asia's manufacturers face a challenging business climate in the coming months, a clutch of surveys suggested on Friday, with China's vast factory sector managing only a shallow rebound at the start of 2013 as feeble foreign demand dragged on sales.
The euro rose broadly and stocks extended gains on Friday after better-than-expected euro zone manufacturing data fuelled optimism that the worst of the region's debt crisis had passed.
U.S. stocks edged lower on Thursday on caution ahead of Friday's all-important jobs report, but the S&P 500 still posted its best monthly gain since October 2011.
The Dow Jones industrial average <.DJI> was down 49.84 points, or 0.36 percent, at 13,860.58. The Standard & Poor's 500 Index <.SPX> was down 3.85 points, or 0.26 percent, at 1,498.11. The Nasdaq Composite Index <.IXIC> was down 0.18 points, or 0.01 percent, at 3,142.13.
(Reporting by Atul Prakash; Editing by John Stonestreet)
Most Popular Slideshows
- Pope Francis Meets Sudanese Woman Who Was Spared Death for Apostasy (PHOTOS)
- Malaysia Airlines Flight MH17: King Williem-Alexander, Queen Maxima Hold Solemn Reception Ceremony for Victims
- Jennifer Lawrence & Nicholas Hoult Allegedly Split: Mad Max Actor Cheats with Kristen Stewart & Riley Keough - Reports
- Celebrities Suffering From Lupus: Facts About the Disease
Join the Conversation
- Apple iPhone 6 on Two Confirmed Release Dates, New Parts Leaked Suggesting Bigger iPhone to Come
- Google Nexus 6, 8 with Android L on Release Date Promises Killer Mobile Device Experience
- iPhone 6 Release Date Relevance to iOS Newbies: Specs Meaning, Price Considerations
- Xiaomi Mi4 vs OnePlusOne vs Nexus 5: Mi4 is the ‘Perfect’ Phone
- Israeli Women Stripping Naked for IDF Soldiers
- HTC One M8 Android 4.4.3 KitKat Update Roll Out, Introducing the HTC One Remix
- Shocking Video of Pedigree Dog Culling in Bali Emerges [Video]