U.S. futures rise as markets eye jobs data; Dow Jones up 0.40%

Investing.com - U.S. stock futures pointed to a higher open on Friday, as markets awaited the release of highly anticipated U.S. employment data, while a string of positive economic reports from the euro zone boosted sentiment.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.40% increase, S&P 500 futures signaled a 0.28% gain, while the Nasdaq 100 futures indicated a 0.31% rise.

Sentiment improved after official data showed that the unemployment rate in the euro zone remained unchanged at 11.7% in December, compared to expectations for a rise to 11.9%.

Separately, Markit research group said that Spain's manufacturing purchasing managers' index rose to 46.1 in January from a reading of 44.6 the previous month, while the euro zone's manufacturing PMI ticked up to 47.9 in January from 47.5.

Meanwhile, investors were looking ahead to U.S. data on nonfarm payrolls data later Friday, after Wednesday’s ADP nonfarm payroll report showed that the U.S. private sector added 192,000 jobs in January, above expectations for an increase of 165,000.

Tech stocks were expected to be active, as Dell was said to be nearing an agreement to sell itself to a buyout consortium led by founder and Chief Executive Michael Dell and private equity firm Silver Lake Partners, possibly announcing a deal as soon as Monday.

Shares in Dell surged 6.65% in pre-market trade.

Internet-linked companies were also likely to be in focus, after Google presented detailed proposals to allay concerns about its business practices, according to the European Union antitrust regulator , bringing the company a step closer to resolving a two-year investigation.

The news sent Google shares up 0.50% in early trading.

In the pharmaceutical sector, the Wall Street Journal reported earlier that Bristol-Myers Squibb is seeking a buyer for some of its brands in Mexico and Brazil with any sale possibly bringing in as much as USD750 million. Shares were down 0.08% in after hour trade.

Also in company news, Kraft Foods reportedly filed a lawsuit against casual dining chain Cracker Barrel Old Country Store over its decision to begin selling certain Cracker Barrel branded products outside of its restaurants and stores.

Other stocks in focus included Exxon, Chevron, Mattel and Merck & Co., all due to report earnings later in the day.

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 added 0.17%, France’s CAC 40 jumped 0.94%, Germany's DAX rose 0.27%, while Britain's FTSE 100 climbed 0.41%.

During the Asian trading session, Hong Kong's Hang Seng Index dipped 0.03%, while Japan’s Nikkei 225 Index advanced 0.47%.

Later in the day, the U.S. was to release the closely watched government report on nonfarm payrolls and the unemployment rate, while the Institute of Supply Management was to publish a report on manufacturing activity.

In addition, the University of Michigan was to produce revised data on consumer sentiment.