Stocks: Not budging ahead of jobs report

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NEW YORK (CNNMoney)

U.S. stock futures were little changed Friday morning and they're not expected to budge until the jobs report comes out at 8:30 a.m. ET.

The monthly jobs report from the Bureau of Labor Statistics has a big influence over market sentiment as it gives investors and traders good insight into the state of the U.S. economy.

Cold, wintry weather has been blamed for hitting hiring over the past few months and many are concerned the trend continued into February.

Economists surveyed by CNNMoney expect that 150,000 jobs were added last month and that the unemployment rate remained steady at 6.6%.

Related: Weather maps can show why February hiring was weak

Aside from the jobs report, investors are also waiting on earnings.

Big Lots (BIG, Fortune 500), Foot Locker (FL, Fortune 500) and Valero Energy Partners (VLP) will report quarterly results before the opening bell.

Meanwhile, shares in Gap (GPS, Fortune 500) could be weak Friday morning after the company reported February sales were down compared to last year.

And shares in the supermarket chain Safeway (SWY, Fortune 500) were declining in extended trading on news that it will be bought by Albertsons.

Related: Fear & Greed Index

U.S. stocks generally closed higher Thursday. The S&P 500 ended the day at an all-time closing high and the Dow Jones industrial average also gained. But the Nasdaq posted a small loss.

Stocks are approaching the five year anniversary of the starting point of the current bull market. While some investors worry that stocks are overdue for a pullback, bulls say there's more room to run.

Markets were rocky earlier in the week as a political and economic crisis in Ukraine intensified and Russia troops got involved. Tensions between Ukraine and Russia continue, though many investors feel that the worst may be over. International leaders have instituted some sanctions against Russia and offered help to Ukraine as they try to resolve the situation.

Related: CNNMoney's Tech30

European markets were declining in morning trading, with Germany's Dax index down 0.8% and London's FTSE 100 falling 0.3%.

Asian markets were mixed. India's Sensex index was rising by roughly 2%, while Japan's Nikkei closed with a gain of 0.9%. Hong Kong's Hang Seng index dropped 0.2%.

First Published: March 7, 2014: 5:19 AM ET

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