* Payrolls data on tap
* Futures: Dow up 4 pts, S&P off 1.2 pts, Nasdaq off 1 pt
* For up-to-the-minute market news see []
(Adds Celldex deal, Campbell soup details, updates prices)
By Chuck Mikolajczak
NEW YORK, Sept 3 (Reuters) - U.S. stock index futures were
little changed on Friday ahead of the key monthly payrolls
report that will give investors insight on the state of the
ailing labor market.
The August employment report is due at 8:30 a.m. EDT [], with economists forecasting 100,000 jobs lost in the
month, compared with 131,000 in July. The unemployment rate is
seen at 9.6 percent versus 9.5 percent in the prior month.
The nonfarm payrolls were likely affected by a combination
of factors, including a reluctance by firms to add staff,
relentless layoffs at cash-strapped state and local
governments, and the fading boost from U.S. Census Bureau
hiring. For details, see []
"We've priced in pretty significant downward revisions and
any glimmers of hope will produce upward movement in the
market," said Jamie Cox, managing partner of Harris Financial
Group in Colonial Heights, Virginia.
"People have already planned for the absolute Armageddon
scenario, and anything that is remotely better produces a
'thank goodness' rally."
S&P 500 futures <SPc1> slipped 1.2 points and were slightly
below fair value, a formula that evaluates pricing by taking
into account interest rates, dividends and time to expiration
on the contract. Dow Jones industrial average futures <DJc1>
gained 4 points, and Nasdaq 100 futures <NDc1> dipped 1 point.
After a dismal August that saw the S&P 500 drop 4.7
percent, Wall Street started September with two consecutive
winning sessions on better-than-expected economic data.
But trading volume has been tepid ahead of the extended
U.S. Labor Day holiday weekend.
Other data on tap for Friday includes the Institute for
Supply Management's services sector report.
Campbell Soup Co <CPB.N> reported higher-than-expected
quarterly earnings on Friday, helped by cost cuts and sales of
V8 juice drinks, even as U.S. soup sales fell. []
Take-Two Interactive Inc's <TTWO.O> quarterly profit
smashed past expectations on Thursday and the video gamemaker
raised its forecast, citing strong sales for its "Red Dead
Redemption" title. Its shares jumped 14.2 percent to $10.11 in
premarket trade.
Celldex Therapeutics Inc <CLDX.O> plunged 38.3 percent to
$2.95 premarket after partner Pfizer Inc <PFE.N> ended a
codevelopment deal on its lead product. []
On the M&A front, Canada's Goldcorp Inc <G.TO><GG.N> agreed
to buy gold miner Andean Resources Ltd <AND.TO> for $3.2
billion, trumping a competing offer from rival Eldorado Gold
Corp <ELD.TO><EAU.AX><EGO.N>.
European shares rose Friday, touching a three-week high
ahead of the U.S. non-farm payroll data as investors hope the
global recovery is still intact, with technology stocks boosted
by takeover talk. []
Asian stocks squeezed higher Friday, but gains were
tentative ahead of the U.S. data. []
(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)
