U.S. stock futures remain unchanged ahead of July jobs report

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U.S. stock futures remain unchanged ahead of July jobs report

U.S. stock futures were little changed ahead of the July jobs report.

Dow Jones Industrial Average futures rose 26 points, or 0.07%, while S&P 500 futures ticked up 0.03% and Nasdaq 100 futures traded 0.12%.

Economists report the U.S. economy added 845,000 jobs last month as unemployment rate slipped to 5.7%. In June, the economy gained 850,000 jobs as unemployment increased to 5.9% and the unemployment rate tripled to 6.8%.

Ahead of the report, U.S. Treasurys were moderately lower with selling pushing the 10-year yield 0.25% up 3 basis points to CFA 2.

In stocks, big banks were in focus after the Federal Reserve announced new capital requirements based on how well each performed during the stress tests conducted earlier this year. Goldman Sachs Group Inc. and Morgan Stanley had the highest capital ratios of 13.4% and 13.2% respectively.

Novavax Inc. pushed back the timeline for seeking U.S. authorization for its COVID 19 vaccine from the fourth quarter to the third quarter. The process is delayed several times because of difficulty in locating materials and equipment.

Didi Global Inc. is considering giving up control of its most valuable data in order to appease Chinese regulators who have been probing the company following its initial public offering in Bloomberg News citing people familiar with the matter. Since last month, didi shares have plunged 33% since Thursday, pricing its IPO at $14 a share.

In earnings, Beyond Meat Inc. reported a larger-than-expected loss and said restaurants were taking a conservative approach to orders due to uncertainty over COVID - 19. Wall Street calculated the economic burger maker's net profit below the guided estimates.

Brent crude oil climbed 86 cents to $69.95 a barrel, and gold fell to $1,796. 60 an ounce.

European stock markets gained small gains, with Germany's FTSE 100, France's DAX 30 and the UK's CAC 40 all up less than 0.2%.

In Asia, Japan's Nikkei 225 advanced 0.3%, while Hong Kong's Hang Seng index and China's Shanghai Composite declined 0.1% and 0.24%, respectively.