U.S. stock futures were a tad higher on Friday, with a cautious tone expected to prevail on Wall Street ahead of the release of the key non-farm payrolls report.
Bond markets, which have seen wild swings this week, cash-strapped Greece and a meeting of the Organization of the Petroleum Exporting Countries (OPEC) were all expected to be in focus this session.
However, the May jobs report, due out at 08:30 a.m. ET, will likely grab the spotlight. After a slew of recent weak economic numbers, the closely-watched employment data could shed some light on the outlook for growth and the timing of a possible rise in U.S. interest rates.
Analysts polled by Reuters forecast the U.S. economy created 225,000 new jobs last month, compared with 223,000 in April. The unemployment rate is expected to stay unchanged at 5.4 percent.
"If we do get some labor tightening in the data, then maybe you have an argument that lends for the Federal Reserve to tighten sooner but with the weak data it's hard to think we'll get that pressure and I think rates will be on hold for longer than people think," Joe Zidle, a portfolio strategist at Richard Bernstein Advisors, told CNBC on Friday.