NEW YORK (CNNMoney.com) -- U.S. stock futures were little changed early Friday, as investors await the government's all-important jobs report following two straight days of gains.
Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were all slightly higher ahead of the opening bell. Futures measure current index values against perceived future performance.
Stocks had another big rally Thursday, as investors cheered strong retail sales figures and a pledge of support from the European Central Bank.
Thursday's gains, coming on top of Wednesday's powerful rebound, have pushed the Dow near its highs for the year.
Investors have been buying up stocks and other risky assets this week, following a batch of improved economic indicators. But the tone was more cautious Friday ahead of the government's November report on hiring and unemployment.
"We're on hold until we get unemployment numbers," said Peter Cardillo, chief market economist at Avalon Partners. "That will direct the market's movement today."
Economy: The Labor Department's monthly jobs report -- among the most highly anticipated economic data on Wall Street -- is expected to show the U.S. economy added 130,000 jobs in November, according to economists surveyed by Briefing.com.
That would be the second month in a row of payroll gains, but the unemployment rate is expected to remain unchanged at 9.6%.
Cardillo said a number above market expectations will "help confirm that the economic activity is turning up," and could drive stocks higher in the coming weeks.
A separate government report is expected to show that factory orders fell 1.3% in October, after a 2.1% gain in September.
The Institute for Supply Management's November index on manufacturing activity is forecast to edge up to 54.5, from 54.3.
Companies: Shares of Ford (F, Fortune 500) were higher in premarket trading, after the automaker reported a 20% increase in November sales on Thursday.
World markets: As part of its battle with inflation, China will move to a more "prudent" monetary policy stance next year, the nation's Political Bureau said. The announcement was made Thursday morning in a report by Xinhua -- the government's official news agency.
The report stated that the move away from a "relatively loose" policy, put in place during the global recession in 2009, is aimed at curbing rising prices in China. The People's Bank of China hiked its benchmark interest rate in October, and raised the reserve requirement ratio for banks twice within one month, according to the report.
Asian markets ended the session mixed. The Shanghai Composite was flat, the Hang Seng in Hong Kong slipped 0.5% and Japan's Nikkei rose 0.1%.
European stocks were mixed in a narrow range. Britain's FTSE 100 was up 0.1% and France's CAC 40 added 0.5%, while the DAX in Germany edged slightly lower.
Currencies and commodities: The dollar fell against the euro, the Japanese yen and the British pound.
Oil for January delivery eased 10 cents to $87.90 a barrel.
Gold futures for December delivery rose $3.50 to $1,392 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury held steady, with the yield unchanged from Thursday at 3%.
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