(For a Reuters live blog on U.S., UK and European stock
markets, click LIVE/ or type LIVE/ in a news window.)
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Futures up: S&P 500 0.06%, Nasdaq 0.07%, Dow 0.09%
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Tripadvisor ( TRIP ) gains on report Starboard Value built stake
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Synopsys ( SNPS ), Cadence Design Systems ( CDNS ) rise as US lifts China
export
curbs
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Nonfarm payrolls report due at 8:30 a.m. ET
(Updates with prices)
By Sruthi Shankar and Nikhil Sharma
July 3 (Reuters) - U.S. stock index futures held steady
on Thursday as investors awaited monthly jobs data for insights
on the health of the labor market and the Federal Reserve's
plans for monetary easing.
The S&P 500 and Nasdaq closed at record highs
after Wednesday's choppy session, boosted by gains in technology
stocks and a trade agreement between the United States and
Vietnam that eased concerns about prolonged tariff tensions.
The blue-chip Dow closed 1.35% below all-time highs
touched in December.
The nonfarm payrolls report for June is scheduled to be
released at 8:30 a.m. ET (1230 GMT) - a day earlier than usual
because the U.S. markets are closed on July 4 for Independence
Day. Trading volumes are expected to be light, with markets
closing early, at 1 p.m. ET on Thursday.
The data is expected to show the U.S. labor market slowed
further in June, with the unemployment rate expected to have
edged up to more than a three-and-a-half-year high of 4.3%, as
economic uncertainty stemming from the Trump administration's
policies curbed hiring.
Analysts forecast a rise of 110,000 jobs in the previous
month, compared with 139,000 in May.
"Chair (Jerome) Powell, leading the camp for the Fed to keep
rates on hold, argues that sticky inflation and a solid labor
market mean that the policy rate should be kept mildly
restrictive," ING analysts said in a note.
"Clearly, any downside surprise in the jobs report would
weaken his (Powell's) position and allow the market to push on
with pricing a rate cut at the July meeting."
Traders are attaching a 25.3% chance of the U.S. Federal
Reserve cutting interest rates at the July meeting, according to
CME Group's Fedwatch tool, up from 20.7% a week ago.
U.S. stocks dipped briefly on Wednesday after data showed
private payrolls fell in June for the first time in more than
two years.
Other economic data on Thursday includes weekly jobless
claims and the S&P Global and ISM services sector activity
readings for June.
Meanwhile, Republicans in the U.S. House of Representatives
advanced President Donald Trump's massive tax-cut and spending
bill toward a final yes-or-no vote, appearing to overcome
internal party divisions over its cost.
The legislation is expected to add $3.4 trillion to the
nation's $36.2 trillion in debt over the next decade, according
to nonpartisan analysts.
At 07:07 a.m. ET (1107 GMT), S&P 500 E-minis were up
3.75 points, or 0.06%, Nasdaq 100 E-minis were up 16.75
points, or 0.07%, and Dow E-minis were up 42 points, or
0.09%.
Shares of chip design software firms Synopsys ( SNPS ) and
Cadence Design Systems ( CDNS ) climbed 6.1% and 5.9%,
respectively, in premarket trading after the U.S. lifted export
restrictions on chip design software to China, signaling a thaw
in trade tensions between the world's top two economies.
Tripadvisor ( TRIP ) climbed 6.5% after the Wall Street
Journal reported activist investor Starboard Value had built a
more than 9% stake in the online travel firm.
Datadog ( DDOG ) jumped 9.6% after the cloud security firm
was set to replace Juniper Networks on the S&P 500.