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Stock Futures Rise On August Jobs Number

7:54 AM, Sep 6, 2013   |    comments
Traders on Wall Street (Getty Images)
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Stock futures jumped after the government said the unemployment rate ticked down to 7.3% in August and added 169,000 nonfarm jobs.

Job growth for July was revised down, the Labor Department said.

Dow Jones industrial average index futures added 0.4%, Standard & Poor's 500 index futures rose 0.4k% and Nasdaq index futures rose 0.3%.

Economists had expected the U.S. economy to add 180,000 jobs in August. The report is likely to play some role in influencing the Federal Reserve's decision on when to start tapering its massive monthly bond-purchasing program.

U.S. markets finished higher Thursday after data showed jobless claims declined in the last week of August and the ADP Research Institute said the private sector added 176,000 jobs in August.

The Dow closed 0.1% higher at 14,937.48. The S&P 500 rose 0.1% to 1,655.08. The Nasdaq added 0.3% to 3,658.78.

Syria's civil war and whether the U.S. will launch a punitive strike against President Bashar Assad's regime for an alleged chemical attack was still in focus for investors. At the Group of 20 summit of world leaders in Russia, President Obama has so far failed to amass much support for military intervention.

"Market mood should remain healthy though Syria will be a lingering concern as G-20 concludes," said analysts at Credit Agricole CIB in Hong Kong in a market commentary.

In Asia Friday, Japan's Nikkei 225 index was down 1.5% to 13,860.81. European shares moved lower in afternoon trading.

Benchmark crude for October delivery was up about 65 cents to roughly $109 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose $1.14 to close at $108.37 on the Nymex on Thursday.

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