US STOCKS-Futures tick higher ahead of payrolls data

Fri Nov 6, 2009 12:12pm GMT
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* Monthly employment data due at 8:30 a.m. (1330 GMT)

* Starbucks raises financial forecasts, shares rise

* For up-to-the-minute market news, click [STXNEWS/US]

NEW YORK, Nov 6 (Reuters) - U.S. stock index futures were slightly higher on Friday as investors awaited monthly payrolls data and the unemployment rate, key indicators to determine the strength of the economic recovery.

* With the data due at 8:30 a.m. EST (1330 GMT), a Reuters survey of 76 economists forecast U.S. non-farm employers cut 175,000 workers from their payrolls in October, which would be the smallest amount for any month since August 2008. The unemployment rate is expected to have climbed to 9.9 percent in October from 9.8 percent in September. For details, see[ID:nN03495528]

* Starbucks Corp (SBUX.O: Quote, Profile, Research) rose more than 4 percent in light premarket trading after the coffee chain operator raised its 2010 forecasts and posted expectations-topping fourth-quarter profit on Thursday. [ID:nN05135925]

* S&P 500 futures SPc1 were up 1.4 points and slightly above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures DJc1 gained 16 points, and Nasdaq 100 futures NDc1 added 2.25 points.

* Companies scheduled to report quarterly results include bailed-out insurer American International Group Inc (AIG.N: Quote, Profile, Research), utility Edison International (EIX.N: Quote, Profile, Research) and Scripps Networks Interactive Inc (SNI.N: Quote, Profile, Research), which owns HGTV and Food Network cable channels and plans to buy a controlling stake in the Travel Channel.

* British Finance Minister Alistair Darling said G20 policymakers have agreed it is too early to pull the plug on economic life-support packages as the global recovery is still fragile. Darling is hosting the meeting of Group of 20 finance ministers and central bankers in St. Andrews, Scotland, later Friday. [ID:nLAG005901]  Continued...

 
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