Stock market rises in early trading as US awaits jobs report

The stock market is rising in early trading Monday on hopes for new measures to deal with the eurozone debt crisis. But investors on the stock market are awaiting a critical US jobs report, to be released Friday.

David Karp/AP/File
Specialists Frank Masello, left, and John T. O'Hara work on the trading floor of the New York Stock Exchange in New York shortly before the closing bell on Friday, June 29, 2012. Stock market futures rose early Monday, July 2, 2012, with the Dow up 14 points to 12822.

U.S. stock futures are edging up on optimism about recently announced measures in Europe to stave off a debt crisis and hopes that interest rates there will be cut this week. But the gains are being tempered with more evidence of a slowdown in China.

Investors are also awaiting the U.S. jobs report set to be released Friday.

Dow Jones industrial average futures rose 14 points to 12,822 on Monday. Standard & Poor's 500 futures are up 2.1 points to 1,358.50 and Nasdaq futures gained 3.75 points to 2,613.50.

China's manufacturing grew at the slowest pace in seven months in June, according to a survey released over the weekend. That could signal limited power in Beijing to forestall a more rapid decline for the world's second largest economy.

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