Futures in U.S. trade eke higher

By Baystreet Market Updates

U.S. stock index futures pointed to a slightly higher open on Friday as investors remained cautious ahead of the July jobs report.

Futures for the Dow Jones Industrials carried 25 points, or 0.1%, to 25,330

S&P 500 futures took on 2.75 points, or 0.1%, to 2,831.25, while futures for the NASDAQ composite added eight points, or 0.1%, to 7,393.75.

U.S. stocks finished higher on Thursday, shortly after Apple became the first U.S. publicly traded company in history to reach $1 trillion in market value. Apple’s stock jumped almost 9% since the firm reported better-than-expected quarterly earnings earlier in the week.

The July non-farm payrolls report, unemployment rate and average hourly wages was set to be published at 8:30 a.m. ET. The jobs report was widely expected to give a reading on the health of the world’s largest economy and offer possible clues regarding the pace of the Federal Reserve’s future interest rate hikes.

Non-manufacturing data is expected to follow at around 10 a.m. ET.

Stock futures came off their morning highs after China said it will slap tariffs on $60 billion in U.S. goods. The action would be in response to increasingly protectionist policies taken by the U.S. on trade.

Overseas, in Japan, the Nikkei 225 gained 0.1% while in Hong Kong, the Hang Seng index dipped 0.1%.

Oil prices slumped 23 cents to $68.23 U.S. a barrel.

Gold prices stepped back $1.30 to $1,218.80 U.S. an ounce.

This article provided by NewsEdge.