Stock futures seesaw after jobs report

NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a dubious open Friday, as nervous investors digested a government jobs report that showed the economy lost jobs for the first time this year.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq futures fluctuated between gains and losses following the report. With half an hour before the opening ball, they edged slightly higher.

Futures measure current index values against perceived future performance.

Stock markets around the world have been unsettled recently amid concerns that the global economic recovery may be faltering.

U.S. stocks hit their lowest levels of the year Thursday after a slew of worse-than-expected economic readings.

"Today it's all about the jobs market, and the key is how many jobs the private sector created," said Peter Cardillo, chief market economist at Avalon Partners. "The report shows that the trend is slowly improving."

The Labor Department said payrolls shed 125,000 last month and the unemployment rate ticked lower to 9.5%, the lowest since June 2009.

Economists surveyed by Briefing.com had forecast an overall loss of about 100,000 jobs for June, and they expected the unemployment rate to have risen to 9.8% from 9.7%.

The decline was mostly due to steep layoffs of temporary census workers. The government said the data reflects a decrease of 225,000 temporary census employees.

Meanwhile, the private sector added 83,000 jobs during the month.

"All in all, there wasn't anything surprising in this report, so it could be a non-event for markets since trading will be light ahead of the holiday weekend," Cardillo said. "

U.S. stock markets will be closed Monday in observance of Independence Day.

Economy: In addition to the jobs report, investors will take in a reading on factory orders, due from the Commerce Department at 10 a.m. ET.

Economists expect factory orders decreased 0.6% in May, after rising 1.2% in April.

World markets: European shares were higher in afternoon trade. Britain's FTSE 100 added 1%, while France's CAC 40 and the DAX in Germany also posted gains.

Asian markets finished the session mixed. The Shanghai Composite and Japan's Nikkei edged higher but the Hang Seng in Hong Kong tumbled 1.1%.

Dollar and commodities: The dollar was mixed against other major currencies. The greenback was slightly higher against the euro and the Japanese yen, but down versus the British pound.

U.S. light crude oil for August delivery fell for a fifth straight session, down 40 cents to $72.55 a barrel, and gold's August contract slipped $3.00 to $1,203.70 per ounce.

Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.93% from 2.94% late Wednesday. Bond prices and yields move in opposite directions.