Stock futures rise slightly ahead of August jobs report

U.S. stock index futures edged higher on Friday morning as investors looked ahead to key monthly nonfarm payroll numbers due later in the day.

At 7:32 a.m. ET. Dow Jones Industrial Average futures were up by 95 points, implying a gain of 63 points at the open. S&P 500 and Nasdaq 100 also pointed to slight gains at the open.

The monthly U.S. government is scheduled for release at 8:30 a.m. ET. Economists polled by Dow Jones expect the U.S. economy to have added 150,000 in August.

The report will follow strong private payrolls data released by ADP and Moody’s Analytics on Thursday.   U.S. private payrolls increased at their fastest pace in four months in August, the data showed.


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The numbers came amid speculation that the decade-long economic expansion is coming to an end. The New York Federal Reserve puts the chance of a recession at 39% in the next 12 months, the highest level since the Great Recession that ended in mid-2009.

Market focus is largely attuned to global trade developments, after the U.S. and China agreed to hold high-level talks in early October. The news raised hopes that the world’s two largest economies could soon make substantial progress in de-escalating their protracted trade dispute.

China’s Ministry of Commerce said Thursday that Liu He, the country’s top trade negotiator, spoke by phone with U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin. They agreed to meet in early October for another round of negotiations, according to the Chinese Commerce Ministry. China insiders have also hinted that the upcoming trade talks could lead to a “breakthrough.”

Meanwhile, investor sentiment was also helped by upbeat U.S. economic data on Thursday. U.S. private payrolls increased at their fastest pace in four months in August, according to ADP. The numbers came amid speculation that the decade-long economic expansion is coming to an end. The New York Federal Reserve puts the chance of a recession at 39% in the next 12 months, the highest level since the Great Recession that ended in mid-2009.

Source: cnbc.com | Original Link

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