Futures moving higher ahead of January jobs report

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Associated Press

Posted on February 1, 2013 at 6:00 AM

Updated Friday, Feb 1 at 6:02 AM

NEW YORK (AP) — Stock futures are heading higher before the release of the January employment report, which is expected to show consistent job growth.

Dow Jones industrial futures are up 49 points to 13,846. The broader S&P futures have added 3.5 points to 1,496.80. Nasdaq futures are up 6.25 points to 2,731.25.

While economists believe the economy added another 155,000 jobs last month, it's still not enough to put a dent in the nation's stubborn unemployment rate, which is hovering at 7.8 percent.

And for Americans that are getting a paycheck, they are getting a larger slice removed for Social Security taxes this year.

However, after the Commerce Department said on Wednesday that the economy shrank during the final quarter of 2012, any bump in hiring would be a boost.

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