Futures move higher ahead of August jobs report -Today at 05:57 am| MarketScreener

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* Futures up: Dow 0.35%, S&P 0.29%, Nasdaq 0.15%

Sept 1 (Reuters) – U.S. stock index futures were higher
on Friday ahead of a reading that could show job growth likely
slowed in August, wrapping up a data-packed week for any fresh
clues on the Federal Reserve’s monetary policy trajectory.

The Labor Department’s closely watched nonfarm payrolls
report for August is due at 8:30 a.m. ET.

The unemployment rate is forecast to remain unchanged at
3.5%, while non-farm payrolls is seen at 170,000 additions last
month, down from 187,000 in July.

“There have been indicators that the U.S. jobs market is
finally starting to lose some of its tightness, and if the NFP
print confirms this trend, it will be one less thing for the
FOMC to worry,” said Tim Waterer, chief market analyst at KCM

The Nasdaq index ended higher on Thursday after a
key inflation reading matched estimates, supporting hopes of the
Fed hitting a pause on its market-punishing tightening campaign.

Other data points are also on the radar for the day, with
the S&P Global Manufacturing Final PMI due at 9:45 a.m. ET and
the ISM Manufacturing PMI due at 10 a.m. ET. Both readings are
for August.

Money markets see an 89% chance of a rate-hike pause in the
September policy meeting and a 56% chance of a pause in the
November meeting, according to the CME FedWatch Tool.

Broadcom fell 4.4% premarket as the chipmaker
projected current-quarter revenue below expectations on
softening enterprise demand.

At 5:38 a.m. ET, Dow e-minis were up 123 points, or
0.35%, S&P 500 e-minis were up 13.25 points, or 0.29%,
and Nasdaq 100 e-minis were up 23.5 points, or 0.15%.

Dell Technologies jumped 9.4% after the personal
computer maker raised its annual forecast for revenue and profit
as it benefits from the artificial intelligence boom.
(Reporting by Shristi Achar A in Bengaluru)

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