Stocks Drift Higher Before Payrolls

Stock futures are melting higher again today before key employment data in the United States.

The S&P 500 is indicated higher by about one-third of 1 percent, following gains of a similar magnitude in Europe. Markets were mostly higher in Asia, led by a huge rally in Japan. Oil is lower.

Momentum remains solidly bullish as strong earnings, benign economic data, and a calm political backdrop give investors few reasons to sell. Attention now focuses on monthly non-farm payrolls for February at 8:30 a.m. ET. Economists are looking for a gain of 178,000 jobs and for employment to remain at 7.9 percent.

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