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Sep 2, 2016

U.S. Stock Market Future Indications, by CNBC - September 2, 2016: Wall Street in Holding Pattern as Investors Await Nonfarm Payrolls - September 21, 2016

Matt Clinch
U.S. stock index futures indicated a flat open Friday as investors looked ahead to a crucial jobs report that could indicate when the next rate hike by the U.S Federal Reserve will occur.

"The hullaballoo around payrolls is for once justified, with Fed Vice Chair Fischer suggesting it would be a critical factor for September 21 rate decision, even if the wisdom of central bankers putting so much store on a single month's reading of a data series that is horrendously erratic, and subject to large revisions, has to be questioned," Marc Ostwald, strategist at ADM Investor Services, said in a note Friday morning.
Economists are forecasting 180,000 nonfarm jobs were created in August, and the unemployment rate is expected to fall to 4.8 percent, when reported Friday morning, according to Thomson Reuters. The report follows July's 255,000 jobs, and comes after two robust months of hiring removed concerns about an especially weak labor market in May.
The August employment report is due at 8:30 a.m. ET with U.S. trade deficit data new at the same time. Factory orders will, be released at 10 a.m. ET and there will be a speech at 1 p.m. ET by Richmond Fed President Jeffrey Lacker.
U.S. stocks closed mostly flat Thursday as investors digested a slew of economic data ahead of Friday's key jobs report. The Dow Jones industrial average closed about 15 points higher, after briefly falling more than 100 points.

On Friday, European stocks were mostly higher and Asian markets finished the session mixed.

—CNBC's Fred Imbert and Patti Domm contributed to this report.