Global market reaction to the ECB measures, which included interest rate cuts and a new liquidity program for banks, was short-lived as investors focused on the jobs data.
In early European trading,
U.S. stocks were poised to open higher. Dow futures edged up 0.2 percent to 16,487.00 and S&P 500 futures were up less than 0.1 percent to 1,939.70.
Most Asian benchmarks ended lower.
"Today, the U.S jobs report will garner most focus while investors continue to digest the ECB decision," strategists at
The U.S. nonfarm payrolls report due Friday will likely set the tone for markets for the following week as traders assess whether it changes the Federal Reserve's current policy stance of not rushing to raise interest rates.
Analysts forecast that U.S. employers added 220,000 jobs last month after adding 288,000 in April. A fourth straight 200,000-plus monthly job gain would add to evidence that the job market in the world's biggest economy is strengthening.
The monthly U.S. jobs report "at present seems to be one of the few economic releases that is still able to make significant waves in markets," said
Markets may cheer even if Friday's number comes in lower than expected, because it would raise the prospect of policymakers delaying their scaling back of monetary stimulus, Every said.
"Equities would no doubt also be happy with the prospect of an even longer period of monetary policy largesse," he said.
The euro weakened to
Oil prices dipped, with benchmark crude for July delivery down
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