US Stock Futures Point to Higher Open Ahead of Monthly Jobs Data
US stock futures are pointing higher, ahead of the key monthly US jobs report, due at 8:30 am ET. Economists expect a nonfarm payrolls gain of 190,000 in July, driving the jobless rate to 3.9% from 4%. The closely watched wage component is expected to increase by 0.3%, though the gain year-over-year increase likely will be unchanged at 2.7%. Asian markets were mixed overnight as investors worried about heightening US-China trade tensions. Mild support stemmed from tech stocks, particularly suppliers to Apple ( AAPL ), which made history on Thursday when its market cap topped $1 trillion. In Europe, UK shares rose as a weaker pound lifted exporters and RBS ( RBS ) said it would pay its first dividend in a decade. A disappointing update on retail sales in the eurozone put in doubt, though, inflation hitting the European Central Bank's inflation target and lightly pressured other markets.
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