U.S. futures steady to lower, eyes on jobs data; Dow Jones down 0.10%

Investing.com - U.S. stock futures pointed to a steady to lower open on Friday, as markets anticipated the release of U.S. jobs data later in the day, amid growing expectations for the Federal Reserve to begin tapering its stimulus program as soon as this month.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.10% slip, S&P 500 futures signaled a 0.03% loss, while the Nasdaq 100 futures indicated a 0.02% gain.

Speculation that the Fed could begin scaling back its bond purchases this month grew stronger after data on Thursday showed that U.S. sector activity expanded at the fastest rate since March 2011 in August.

The Institute of Supply Management said that its non-manufacturing purchasing managers' index rose to 58.6 in August, from a reading of 56.0 the previous month, hitting ta 29-month high.

In addition, the Department of Labor said the number of people filing for initial jobless benefits in the week ending August 30 fell by 9,000 to a seasonally adjusted 323,000, compared to forecasts for a decline of 2,000.

In the tech sector, Apple was expected to be active, amid reports prices for memory chips used in smartphones and personal computers surged 19%, the most in three years, as SK Hynix suspended operations in China after a factory fire.

Yahoo was also likely to remain in focus, after the company unveiled a new logo on Thursday, in what was the first re-design since the firm was founded nearly 20 years ago.

Elsewhere, JCPenney climbed 0.49% in pre-market trade, after soaring over 5% on Thursday, following reports from the New York Post that the retailer is scrapping the Martha Stewart brand due to poor sales.

The decision came as a judge is expected to soon rule in a court battle between JCPenney and Macy's over which chain has the right to sell the Martha Stewart line.

Other stocks likely to be in focus included Smithfield Foods and Mattress Firm, scheduled to report second-quarter earnings later in the day.

Across the Atlantic, European stock markets were lower. The EURO STOXX 50 slipped 0.10%, France’s CAC 40 fell 0.15%, Germany's DAX shed 0.27%, while Britain's FTSE 100 edged down 0.14%.

During the Asian trading session, Hong Kong's Hang Seng Index added 0.10%, while Japan’s Nikkei 225 Index tumbled 1.45%.

Concerns over a U.S. military intervention against Syria’s government persisted, as the U.S. government was set to vote next week on President Barack Obama's proposal to launch a missile strike.

At a meeting in Russia, world leaders from the Group of 20 nations put pressure on President Obama to decide against launching military strikes in Syria, which many of them fear would hurt the global economy and push up oil prices.

Later in the day, the U.S. was to release government data on nonfarm payrolls and the unemployment rate.