Investing.com - U.S. stock futures pointed to a lower open on Friday, in the wake of a global selloff and as markets awaited the release of a highly anticipated report on U.S. employment due later in the day.
Ahead of the open, the Dow 30 futures pointed to a 0.67% drop, S&P 500 futures signaled a 0.71% loss, while the Nasdaq 100 futures indicated a 0.75% decline.
U.S. markets were jittery after the U.S. Department of Labor reported on Thursday that the number of individuals filing for initial jobless benefits increased by 23,000 last week to 302,000 from the previous week’s total of 279,000, which was the lowest in 14 years.
The four-week moving average was 297,250, the first time the monthly average has fallen below 300,000 since April 2006 and reflects an eight-year low.
The report came a day after official data showed that the U.S. economy rebounded more strongly than expected in the second quarter, fuelling speculation over the timing of a possible U.S. rate hike.
LinkedIn Corporation (NYSE:LNKD) was expected to be active, as shares surged 4.71% in pre-market trade after the internet company gave a forecast for third-quarter revenue that topped estimates.
The California-based group said on Thursday that revenue will be $543 million to $547 million in the current period, beating analysts' average projection for $541.5 million.
In the tech sector, Apple Inc (NASDAQ:AAPL) tumbled 2.07% after hours, following reports the iPhone maker plans to cut around 200 jobs at Beats Electronics following its $3 billion acquisition of the headphone and music streaming services company.
Telecom companies were also slated to be in the spotlight after French mobile-phone carrier Iliad (PARIS:ILD) offered $15 billion in cash for a controlling stake in T-Mobile US Inc (NYSE:TMUS), rivaling a proposal from Sprint Corp (NYSE:S).
Shares in T-Mobile rallied 1.61% in extended trade, while Sprint slipped 0.14%.
Other stocks likely to be in focus included Procter & Gamble Company (NYSE:PG) and Chevron Corporation (NYSE:CVX), scheduled to report second-quarter earnings later in the day.
Across the Atlantic, European stock markets were sharply lower. The DJ Euro Stoxx 50 tumbled 1.57%, France’s CAC 40 lost 1.36%, Germany's DAX plunged 2.10%, while Britain's FTSE 100 retreated 1.40%.
During the Asian trading session, Hong Kong's Hang Seng dropped 0.63%, while Japan’s Nikkei 225 tumbled 0.91%.
Later in the day, the U.S. was to release closely watched government data on nonfarm payrolls and the unemployment rate, while the Institute of Supply Management was to release data on manufacturing activity.