Futures turn higher
Futures edge higher as investors respond to jobs report, European Central Bank rate decision.
NEW YORK (CNNMoney.com) -- Stock futures turned higher early Thursday as investors responded to a key report on the nation's labor market and the European Central Bank's decision to raise interest rates.
At 7:06 a.m. ET, Nasdaq and S&P futures were higher and suggesting a stronger open for a shortened session on Wall Street. U.S. markets will close at 1 p.m. ET Thursday and remain shut Friday for the July 4 holiday.
Stocks have slumped recently amid concerns about record oil prices and growing jitters about the economy. The Dow and Nasdaq ended Wednesday at bear market levels, down more than 20% from their highs in October.
Jobs Employers trimmed jobs from their payrolls in June, for the sixth straight month, while the nation's unemployment rate held steady.
The Labor Department reported a net loss of 62,000 jobs in the month. That matched the job loss figure for May, which was revised higher from 49,000. Economists surveyed by Briefing.com had forecast a loss of 60,000 jobs.
The unemployment rate stayed at 5.5%. Economists had forecast the rate would come in at 5.4% in the latest reading.
Separately, the department said initial claims for unemployment insurance rose 16,000 to 404,000 in the latest week.
ECB In a widely expected move, the European Central Bank announced its decision to boost its main interest rate to 4.25% from 4% amid mounting inflation.
Energy Crude prices soared to yet another trading high early Thursday. U.S. crude for August delivery approached $146 a barrel in electronic trading.
Microsoft-Yahoo Yahoo (YHOO, Fortune 500) is pursuing deal talks with Time Warner (TWX, Fortune 500), the parent company of CNNMoney.com, the Wall Street Journal reported. The move comes as Microsoft (MSFT, Fortune 500) is considering making another move for Yahoo, the Journal said.
Nvidia Chip maker Nvidia Corp. (NVDA) lowered its second-quarter revenue outlook late Wednesday, partly because of consumer weakness around the world.
Other markets In global trade, stocks in Asia fell. European shares were slightly lower in morning trading.
The euro traded at $1.5816, down from $1.588 late Wednesday while the dollar fetched ¥106.46, up from ¥105.99.
Bond prices fell, with the benchmark 10-year note shedding 3/32 to yield 3.97%, down slightly from 3.97% late Wednesday.
Gold for August delivery was down $12 to $934.60 an ounce in pre-market trading. 
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