February -7, 2014- Stocks Look to Edge Higher After US Payroll Data

Early indications suggest that Wall Street may inch higher at the open of trading on Friday. That said, given the market moving nature of the non-farm payrolls report, market direction could largely hinge on how the numbers pan out. A fairly in line number could lead to a relief rally, as the averages are still in oversold territory. Although a strong number signals economic strength, it could trigger fears of scaling back of the Fed's stimulus. The Dow futures are rising 21 points, the S&P 500 futures are moving up 4.40 points and the Nasdaq 100 futures are advancing 17.75 points. U.S. stocks advanced solidly on Thursday, helped by positive jobless claims report and some encouraging earnings. On the economic front, The U.S. Labor Department is scheduled to release its non-farm payrolls report for January at 8:30 am ET. Economists estimate the economy to have added 181,000 jobs in the month, while the jobless rate is estimated to have remained unchanged at 6.7 percent.