NEW YORK |
NEW YORK (Reuters) – Stock index futures edged higher on Friday as investors awaited the monthly payrolls report to see whether to make more large bets in risk assets after recent equity gains.
The government’s payrolls report, due at 8:30 a.m. EST is expected to show 150,000 jobs were added in January, down from 200,000 in December, which benefited from holiday hiring. Despite that, economists expect the data to show that a trend of growth remains intact, while the unemployment rate is seen holding steady at a near three-year low of 8.5 percent.
Recent economic data have suggested the economy is on a slow but steady path to recovery and helped fuel a rally in stocks, with the SP 500 up 5.4 percent so far this year and gaining over 23 percent since lows in October. A solid report could propel equities further.
Sentiment was underpinned by data that hinted the euro zone may yet avoid recession, boosting European shares.
SP 500 futures
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