US equity futures are trading higher ahead of the release of the month’s most anticipated economic report.
The major futures indices suggest a gain of 0.1% when the Friday trading session begins on Wall Street.
The Labor Department is expected to say that the US economy created 700,000 new non-farm jobs last month. This would be up from a weaker-than-expected gain of 559 million in May, largely reflecting a labor shortage.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
The unemployment rate is expected to drop to 5.7% from 5.8% in May, which marked the lowest since March 2020 and was the first reading below 6% since then.
Also on the economic agenda, the Commerce Department released the US trade balance for the month of May. The monthly goods and services deficit is expected to widen to $ 71.4 billion, from $ 68.9 billion in April.
May factory orders will also be released. They are expected to rise 1.6%, rebounding from a 0.6% drop in April:
Shares were mostly higher in Asia on Friday, although the Shanghai and Hong Kong markets fell a day after the Chinese Communist Party celebrated its centenary with harsh words from Chinese President Xi Jinping.
JUNE JOB REPORT ARRIVES AT MAKE-IT-OR-BREAK-IT TIME FOR BIDEN’S ECONOMIC AGENDA
Japan’s Nikkei 225 benchmark gained 0.3%, Hong Kong’s Hang Seng slipped 1.8% and China’s Shanghai Composite fell 1.9%.
In Europe, London’s FTSE gained 0.2%, German DAX 0.5% and France’s CAC gained 0.2%.
|Me: DJI||MEDIUM DOW JONES||34633.53||+131.02||+0.38%|
|I:COMP||NASDAQ COMPOSITE INDEX||14522.375542||+18,42||+0.13%|
On Wall Street Thursday, the benchmark S&P 500 hit a new record in anticipation of a positive US jobs report.
The S&P 500 Index rose 0.5% Thursday to 4,319.94, marking its sixth consecutive gain and fourth consecutive record. The Dow Jones Industrial Average gained 0.4% to 34,633.53. The tech-rich Nasdaq Composite added 0.1% to 14,522.38.
CLICK HERE TO LEARN MORE ABOUT FOX BUSINESS
In the energy market, benchmark US crude slipped 3 cents to $ 75.20 per barrel. Brent crude, the international standard, fell 9 cents to $ 75.75 a barrel.
The Associated Press contributed to this report.