US STOCKS-Futures drop before jobs data; Merrill dives
September 5th, 2008 | by admin |* Caution before August payrolls report
* Global stocks markets slide on growth worries
* Merrill Lynch falls after being cut by Goldman
* UST rises on report it is a Altria takeover target
By Ellis Mnyandu
NEW YORK, Sept 5 (Reuters) - U.S. stock futures fell onFriday as mounting concerns about a global economic slowdowndiminished investors’ appetite for risk and investors bracedfor the government’s report on August non-farm payrolls.
Stock markets fell across Asia overnight, and Europe alsotraded in the red on Friday, boosting the allure of safe-heavengovernment debt. Benchmark 10-year U.S. Treasury yields fell totheir lowest in 4-1/2 months.
After Thursday’s sharp slide on Wall Street, investorsfeared that the jobs data might provide further signs of labormarket deterioration as fallout from the housing slump hobblesthe economy and darkens the profit outlook.
The payrolls report is due out at 8:30 a.m. (1230 GMT).
