US stocks adding to gains ahead of jobs report

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Stocks look to add gains for a third straight day ahead of the August employment report which will be released Friday morning.

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Dow Industrial futures are higher by 0.3 percent, S&P 500 futures are up by 0.3 percent and Nasdaq futures are adding 0.2 percent.

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All eyes will be on the Labor Department’s August jobs report early Friday morning, as investors look for insight about the strength of the employment market amid signs of creeping weakness in other pillars of the U.S. economy.

As the U.S. continues the longest economic expansion on record, analysts surveyed by Refinitiv expect the economy to have created 158,000 jobs in August, a healthy number that’s just below average growth of 165,000 jobs.

The unemployment rate, meanwhile, is expected to remain steady at 3.7 percent for the third consecutive month, near a 50-year low.

In the Thursday session, the S&P 500 gained 1.3 percent, the Dow rose 1.4 percent and the Nasdaq climbed 1.8 percent.

Ticker Security Last Change %Chg
I:DJI DOW JONES AVERAGES 26728.15 +372.68 +1.41%
SP500 S&P 500 2976 +38.22 +1.30%
I:COMP NASDAQ COMPOSITE INDEX 8116.828205 +139.95 +1.75%

Stocks jumped on the ADP National Employment Report which showed private sector hiring rebounded by 195,000 people, topping expectations of 149,000.

European stocks opened flat on Friday after two sessions of gains.

Asian shares rose Friday as investors cheered plans for more trade negotiations between Washington and Beijing and drew encouragement from positive U.S. economic data.

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Japan’s benchmark Nikkei ended the day up 0.5 percent and advanced 2.4 percent for the week. Hong Kong’s Hang Seng rose 0.3 percent and China’s Shanghai Composite ended up 0.5 percent and  up 3.9 percent, marking their best week since late June..

The Associated Press contributed to this article.

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