Stocks look to jobs data for Fed clues
It's jobs day.Investors will be looking to October U.S. employment numbers for clues as to when the Federal Reserve will begin taking its foot off the gas. Stronger than expected economic data Thursday reignited talk that the Fed may begin tapering the bond purchases that have helped drive markets to record highs.
U.S. stock futures were edging higher, pointing to a positive open after major U.S. indexes all fell sharply Thursday.
The monthly jobs report is due at 8:30 a.m. ET. Economists surveyed by CNNMoney predict that the economy added 120,000 jobs last month. That would be weaker than September, and the 12-month average.
Also at 8:30, the Commerce Department will publish its monthly report on personal income and spending. At 9:55, the University of Michigan and Thomson Reuters release their consumer sentiment index.
Related: Fear & Greed Index
Investors will also be watching Twitter on Friday as it enters its second day of trading. Twitter shares closed at $44.90 on Thursday, a whopping 73% gain from its initial public offering price of $26.
Gap Inc. shares surged in after-hours trading Thursday after releasing strong monthly sales figures.
European markets were falling in morning trading, tracking a negative finish on Wall Street. The CAC 40 was the weakest of the major regional indexes, falling 0.8% after S&P downgraded France's long term credit rating by one notch to AA.
Asian markets chalked up big losses despite strong China trade data. Japan's Nikkei fell 1% and the Shanghai Composite was down 1.1%. 
First Published: November 8, 2013: 4:51 AM ET
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