Stocks: Ready for the jobs report

Written By limadu on Jumat, 02 Agustus 2013 | 17.42

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NEW YORK (CNNMoney)

Economists surveyed by CNNMoney forecast that the economy added 180,000 jobs in July, down from 195,000 in June, with the unemployment rate ticking down 0.1% to 7.5%.

The monthly employment numbers influence market sentiment around the world, and U.S. stock futures were edging higher in anticipation of the report.

Also at 8:30 a.m., the government will release its monthly report on personal income and spending. At 10 a.m., the Census Bureau will publish data on factory orders.

Related: Fear & Greed Index

In corporate news, Chevron (CVX, Fortune 500) and Viacom (VIA) are set to report quarterly results before the opening bell.

U.S. stocks rallied Thursday, with the Dow Jones industrial average and S&P 500 closing at record highs. The S&P climbed 1.3% and closed above 1,700 for the first time ever, while the Dow advanced 0.8% to a record high.

After the closing bell, LinkedIn (LNKD) reported better-than-expected results and boosted its full-year forecast.

AIG (AIG, Fortune 500) shares rallied in premarket trading after the insurer announced plans to reinstate a dividend and buy back shares.

In Europe, the main market indexes edged up in morning trading, though the gains were very small.

Shares of Royal Bank of Scotland (RBS) fell 5% after the partially state-owned bank reported earnings results for the first half of the year. The bank also announced it had appointed a new CEO, Ross McEwan.

The major Asian markets ended the week with gains. Japan's Nikkei index led the way forward with a 3.3% surge as the yen weakened. To top of page

First Published: August 2, 2013: 5:03 AM ET


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