By Sara Sjolin, MarketWatch
LONDON (MarketWatch) -- U.S. equity investors remained cautious
in premarket trade on Friday, with stock futures moving lower ahead
of the important nonfarm-payrolls numbers.
Futures for the Dow Jones Industrial Average (DJH5) slipped 56
points, or 0.3%, to 17,764, while those for the S&P 500 index
(SPH5) lost 6.80 points, or 0.3%, to 2,048.20. Futures for the
Nasdaq 100 index (NDH5) dropped 8.25 points, or 0.2%, to
4,224..
The pullback came after a stellar performance on Thursday, when
the Dow average posted its biggest gain in three weeks. The surge
was spurred by dovish comments from Federal Reserve Bank of Chicago
President Charles Evans, who advised the Fed shouldn't raise
interest rates until 2016.
Markets might get more clues on monetary policy later on Friday,
when Richmond Fed President Jeffrey Lacker discusses the 2015
economic outlook at 1:20 p.m. Eastern Time, in Richmond,
Virginia.
Data: But the most important economic event on Friday, however,
will be the U.S. nonfarm-payroll number and unemployment rate for
December, both due at 8:30 a.m. Eastern Time. The U.S. has added at
least 200,000 jobs a month for 10 straight months, and economists
polled by MarketWatch expect a reading of 230,000 this time.
Another key focus in the jobs report is expected to be wage
growth, which has risen much more slowly than usual since the U.S.
exited recession in mid-2009. Unless wage growth picks up,
economists say, the country is unlikely to shift into a higher
gear, despite the upsurge in new jobs.
At 10 a.m. Eastern Time, wholesale inventories for November are
due.
ECB news: Futures in the U.S. also tracked European stocks
lower, after Bloomberg reported the ECB's Governing Council was
presented with models for buying as much as 500 billion euros
($592.68 billion) of AAA-rated debt or bonds rated at least
BBB+.
Movers and shakers:Macy's Inc.(M) lost 2.7% ahead of the bell
after the retailer late Thursday said it aims to save $140 million
a year by restructuring its merchandising and marketing operations.
The overhaul is likely to result in store closures.
Wet Seal Inc.(WTSLA) slumped 31% premarket after The Wall Street
Journal reported the teen retailer has hired restructuring lawyers,
with sources saying a bankruptcy filing could come next week.
Clothing retailer Gap Inc.(GPS) was also in the spotlight after
it said late Thursday its comparable sales rose 3% for the November
and December holiday-shopping season.
Luxury-shoe designer Steve Madden Ltd.(SHOO) may be active after
it said it expects 2014 per-share earnings of $1.75 to $1.76, below
the current FactSet consensus of $1.84.
Conatus Pharmaceuticals Inc.(CNAT) slumped 42% ahead of the
open, after the small company said it has stopped a clinical trial
of a liver drug due to the "logistical challenges" of following
patients with acute-on-chronic liver failure in the trial.
Further in the news, Spectrum Brands Holdings Inc.(SPB) said
Friday Chief Executive David Lumley is planning to retire by the
end of 2015.
Other markets: Asian markets closed mixed, while European
indexes were mostly lower after a sharp rally on Thursday.
Oil futures swung between small gains and losses, while most
metals prices were on the rise. The dollar declined against most
major currencies.
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