European markets are called to open flat this morning.
Asian stocks rose, driving the benchmark index to its longest streak of gains in eight months, on signs the global economy will avoid a recession.
Wall Street ended modestly higher on its last day as investors on Wednesday digested several economic reports on the labor market and manufacturing.
Events this week
Thursday: The Labor Department’ closely-watched weekly initial jobless claims data comes out at 8:30 a.m. ET, with economists expecting claims to drop slightly to a reading of 408,000 claims from last week’ 417,000 claims.
Wall Street will get the Institute for Supply Management’ August manufacturing index, as well as construction spending figures from the Commerce Department.
Economists expect the August ISM index will fall to a reading of 47 from last month’ 48.5, while construction spending figures are expected to increase 0.1%, down slightly from last month’ 0.2% increase.
Friday: The week culminates with the Labor Department’ August jobs report, which will be released at 8:30 a.m. ET. Economists expect unemployment to stay steady at 9.1%. Payrolls are forecast to grow by 75,000 jobs in August below last month’ 117,000.
Analyst will also keep an eye out for Campbell Soup (CPB, Fortune 500), which reports quarterly results before the open.