Futures rise sharply ahead of monthly jobs report

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Associated Press

Posted on July 5, 2013 at 6:01 AM

NEW YORK (AP) — Stock futures are rising sharply ahead of the U.S. jobs report for June.

Dow Jones industrial futures are up 130 points to 15,046. The broader S&P futures have added 15.1 points to 1,624.20. Nasdaq futures are up 29.25 points to 2,965.75.

Economists expect that the U.S. added 165,000 jobs last month, and there have been several reports this week that suggest hiring is strong.

The payroll company ADP said that this week businesses added 188,000 jobs in June, the most in four months. And an index published by the Institute for Supply Management suggested hiring was brisk last month in the service sector, a critical part of the economy.

Still, unemployment is lingering at 7.6 percent.

The Labor Department releases its June jobs report at 8:30 a.m. Eastern on Friday.

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