Wall Street has job report jitters

New York -- Stocks were set for a lower opening Friday as Wall Street prepared for an expected poor report on the U.S. jobs market.

Hours before the opening bell, Dow, Nasdaq and Standard & Poor's 500 stock futures were down, a sign of how the market could open based on what the December employment figures indicates, CNNMoney.com reported.

Before the opening bell, the U.S. Labor Department is expected to report the U.S. economy lost 500,000 jobs in December, compared with 533,000 jobs in November, CNNMoney.com said. The report is also expected to show that the unemployment rate rose to 7 percent from 6.7 percent in the previous reporting period.

The wholesale inventories report could ease concerns about the manufacturing sector, the online service said. The Census Bureau's report, issued after trading begins, is expected to show wholesale inventories fell 0.9 percent in November after tumbling 1.1 percent in October.

Stocks ended Thursday's session mixed, reacting to weak retail sales and in anticipation of the jobs report.

Asian stocks closed lower Friday, with the Tokyo's Nikkei index down nearly 0.5 percent. European markets also were lower in early trading.

In electronic trading, oil rose 50 cents to $42.20 a barrel.

Copyright 2009 by United Press International.