Stocks hold steady before jobs report

NEW YORK (CNNMoney)

U.S. stock futures were steady, with the S&P 500 and Dow indexes pointing to a flat start to trading.

Traders were hesitant to make any big bets ahead of the non-farm payrolls report due out at 8.30 a.m. ET. The September jobs report was delayed because of the federal government shutdown.

The data, which won't reflect the impact of this month's government closure, may shed more light on when the Federal Reserve is likely to start to wind back its $85 billion monthly bond buying program.

Improvement in the jobs market is a vital factor in the Fed's decision to pull back on stimulus, known as tapering. Most economists forecast the central bank won't begin tapering until 2014.

Also on the economic front, the Census Bureau will release its monthly report on construction spending at 10.00.

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Earnings season continues with Delta Air Lines (DAL, Fortune 500), DuPont (DD, Fortune 500) and Lockheed Martin (LMT, Fortune 500) scheduled to report quarterly results before the opening bell. Apple (AAPL, Fortune 500) will be in the spotlight in the afternoon, when it hosts an event at which it is expected to unveil a new version of the iPad.

Nokia (NOK), which is being bought by Microsoft (MSFT, Fortune 500), earlier Tuesday unveiled its first full-size tablet and a pair of big-screen colorful Lumia smartphones.

U.S. stocks finished mixed Monday. Netflix (NFLX) shares surged in after-hours trading after the company reported quarterly earnings that beat expectations.

Global markets were relatively subdued Tuesday. European markets diverged, with U.K. stocks edging up, while indexes in France and Germany slipped. Asian markets were also mixed, with stocks in Hong Kong falling after a weak earnings report from heavyweight China Mobile, while Japan inched higher.

First Published: October 22, 2013: 5:01 AM ET

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