Futures higher ahead of monthly employment data

US stocks were higher on Thursday after better-than-expected private sector hiring showed that the labor market continues to strengthen, further boosting chances of a rate hike by the Federal Reserve later this month.

June 2 (BusinessDesk) - Wall Street climbed to record highs as the latest United States jobs and manufacturing data bolstered expectations that the pace of economic growth will justify a Federal Reserve interest rate increase this month.

The Institute for Supply Management said its barometer of USA factory activity edged up to 54.9 last month from 54.8 in April, while ADP reported private payrolls grew by 253,000 last month, beating analysts' median forecast of a 185,000 increase.

US stocks closed at record levels for a second consecutive session on Friday, as gains in technology and industrial stocks more than offset a lukewarm jobs report.

In Dublin, the Iseq closed down marginally but above the rarely reached 7,000 mark on Friday, ending the session at 7044.

(Kitco News) - World stock markets were mostly firmer overnight, following the lead of USA stock indexes that hit record highs Thursday. The S&P 500 gained 9.01 points, or 0.37 per cent, to 2,439.07 and the Nasdaq Composite added 58.97 points, or 0.94 per cent, to 6,305.80.

The greenback fell to seven-month lows against the euro and Swiss franc, while sliding to a two-week bottom versus the yen.

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Comey is expected to say that Trump tried to get him to drop his investigation of former national security adviser Mike Flynn. Kerry also wrote on Facebook that Trump is turning his back on facts and science.

San Francisco Federal Reserve Bank President John Williams said on Wednesday that while he sees three interest rate hikes this year as his baseline scenario. At 4.3%, the measure is the lowest in 16 years, according to the Bureau of Labor Statistics.

"A hike in June is still on the table but the news flow will have to improve for the Fed to keep tightening in the second part of the year", said Thomas Julien, US economist, at Natixis North America in NY. The dollar index was also up to stand at 97.13 in late European trading.

Brent crude dipped below $50 and headed for a second week of losses on worries Trump's decision to abandon a climate pact could spur US drilling and worsen a global oil glut.

On the New York Mercantile Exchange, crude futures for June delivery rose 4 cents to settle at $48.36 a barrel.

Global benchmark Brent crude futures fell to US$49.63 a barrel, while U.S. West Texas Intermediate crude by more than a dollar to US$47.36 per barrel. Weekly claims held below 250,000 in May, which suggests another month of strong job growth.

EUR/USD is likely to find support at 1.1170 levels and now trading at 1.1215 levels.

The Australian dollar meanwhile extended its Asian session losses to drop to a three-week low of 0.7372 versus its U.S. counterpart in European trading. Year over year, salaries are stuck at 2.5%.

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