Traders Eye Nonfarm Payrolls

U.S. stock index futures indicated a lower open on Friday morning as traders eyed the release of a host of data.

Nonfarm payrolls, the unemployment rate, average hourly wages and the U.S trade deficit are all set to come out at 8:30 a.m. ET. ISM non-manufacturing data and factory orders are set to be released at 10:00 a.m.

The jobs report is the most important piece of data before the Fed next meets on June 14 and 15, but a soft number is not what would discourage the Fed from raising rates.

The futures market is pricing in higher expectations for July, and some economists expect the Fed to raise rates later in the summer or even the second half of the year because of the June 23 U.K. vote on exiting the European Union.

CNBC

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