Wall Street shares set to start lower as all eyes on jobs

Wall Street shares set to start lower as all eyes on jobs....

Pictured are two cabs in New York.....
Wall Street shares are set for a lower open ahead of the jobs report....

Wall Street shares are seen opening lower on Friday as investors nervously await the key jobs report later.

It comes after a mixed finish on Thursday and, as European indices are also lower today.

In London, Footsie is around 50 points down, at 6,066, while the German DAX is over 75 points lower.

The monthly non-farm US jobs report is always closely watched around the world for signs of how the US powerhouse economy is doing and also to give a clue as to how it may affect the Fed's stance on interest rates.

What it shows is how many new jobs were created in the period.

Economists surveyed by financial website MarketWatch predict a strong 203,000 gain in nonfarm jobs last month but that comes after payroll firm ADP stats earlier in the weak, which showed a disappointing 156,000 new jobs created  in April, so it's a wait and watch game.

Commentators say that anything below the 200,000 level would be seen as disappointing.

On Wall Street, the benchmark Dow closed up 9.45 points on Thursday, at 17,660,while the S&P500 lost 0.49 at 2,050 and the tech heavy Nasdaq was down around eight, at 4,717.

In futures trading today, the S&P500 is down five points; the Nasdaq is down ten and the Dow Jones is 36 points lower.

Away from the macro- picture, in company news, more earnings are expected.

Warren Buffett's baby Berkshire Hathaway (NYSE: BRKB) is reporting after the close, while giant steel producer ArcelorMittal (NYSE: AMSYF) is due to post earnings ahead of the bell.

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