Morning Report: Futures Edge Lower Before Jobs Report

 |  Includes: BBRY, CPB, SPY
by: optionMONSTER

By Bryan McCormick

US stock index futures are fractionally lower before this morning’s employment report, despite positive sessions in Asia and Europe. Volume has been light and currencies are little changed. Crude has drifted lower, despite a slightly weaker US dollar, and industrial metals are firm. Treasury prices are lower again this morning, which may ultimately help stocks and other riskier assets.

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Research in Motion (RIMM) could be under pressure this morning after the Globe and Mail reported that its compromise deal with the UAE may be in jeopardy following negative comments from Dubai's police chief. Campbell Soup (CPM) could also be active after its earnings beat estimates and management issued bullish guidance for next year.

Given the very binary nature of the Employment Situation Report, I will issue a pre-market update if warranted following its release at 8:30am eastern time. The bulls currently have upside momentum, but they need a positive report for that to continue.

Disclosure: No positions