S+P 500 futures lift as Europe rebounds- US Jobs very much in focus later on

The S+P 500 closed slightly lower last night, at 5.699.94. The index once again lifted from a session low underneath 5,680, very much like it did the day before, but on this occasion it was not able to post a daily close above 5,700. The futures are a little higher now this morning though and clearly being helped by a rebound unfolding in the DAX and the CAC from their earlier opening lows. Of course that rebound may yet blow out, but for the time being those markets are higher. Now, later today we have the big US release of the week to come and that is the September monthly jobs report. The markets anticipate a modest gain in non-farm payrolls around 150k, from a prior reading of 142k. The underlying rate of unemployment is expected to remain unchanged at 4.2%. The rate of annualised average wage growth forecast to remain unchanged too, at 3.8%. This report will be released at 12.30pm GMT and the S+P 500 not reopen until 1.30pm GMT, so the futures will be in the spotlight once this data emerges and will determine where the index reopens later. The index is just now priced to reopen at around 5,708