Wall Street waits for jobs
Futures drift ahead of government's March reading on employment; overseas markets mixed.
LONDON (CNNMoney.com) -- U.S. stock futures drifted early Friday, as investors awaited a key reading on the labor sector.
At 4:21 a.m. ET, Nasdaq and S&P futures were little changed, although a comparison to fair value suggested a slightly higher start for Wall Street.
Stocks will look to the government's March payrolls report for direction. The reading is expected to show a decline of 50,000 jobs, which would mark the third straight month of job declines. That report is due at 8:30 a.m. ET.
Stocks finished Thursday's session higher, but gains were mild as investors grew jittery ahead of the jobs report.
In major corporate news, Motorola (MOT, Fortune 500) said late Thursday it was cutting 2,600 jobs. The company has laid off more than 10,000 employees since last year.
GlaxoSmithKline (GSK) said Thursday it had received approval from the Food and Drug Administration for its vaccine to prevent rotavirus in infants. That market currently is dominated by Merck (MRK, Fortune 500).
In global trade, Japan stocks posted modest losses. European markets rose in early trading. 
