US STOCKS-Futures flat on caution before jobs report
* Payroll data seen showing mild jobs growth in June
* Spanish 10-yr bond yields rise above 7 pct
* Futures dip: S&P 2.1 pts, Dow 7 pts, Nasdaq 2.25 pts
By Angela Moon
NEW YORK, July 6 (Reuters) - U.S. stock index futures were little changed on Friday amid caution ahead of a major jobs report that is expected to show tepid growth.
U.S. employers likely quickened the pace of hiring last month but not enough to allay worries that Europe's debt crisis is shifting the economy into low gear. The Labor Department is expected to say that non-farm payrolls expanded by just 90,000 jobs in June, according to a Reuters survey of economists. The data is due at 8:30 a.m. (1230 GMT)
"The whisper (number) is now obviously higher post-ADP. As job growth is a lagging indicator and under the belief the global economy will slow further in the second half, any upside surprise will not be sustainable, I believe," said Peter Boockvar, equity strategist at Miller Tabak & Co in New York. "Anything to the downside will only be followed by more QE (quantitative easing) talk and anything in line will leave us in no man's land."
On Thursday, the ADP National Employment Report said U.S. private employers added 176,000 jobs in June. Economists had forecast 105,000 jobs would be added.
In Europe, Spanish 10-year government bond yields extended their rise above 7 percent Friday, with investors dumping risky assets on worries about the efficiency of the anti-crisis tools available at the moment. Ten-year Spanish yields were 22 basis points higher on the day at 7.006 percent.
The head of the International Monetary Fund expressed concern Friday about the outlook for the global economy, which has become more worrying as developed and big emerging nations show signs of slowing growth.
S&P 500 futures fell 2.1 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures shed 7 points, and Nasdaq 100 futures inched down 2.25 points.
The hunt for Yahoo Inc's next chief executive appears to have narrowed to two candidates: Current interim CEO Ross Levinsohn and Hulu CEO Jason Kilar.
Buyout firm KKR plans to take over German cutlery and coffee machines maker WMF AG for at least 587 million euros ($727 million).
Goldman Sachs has secured three properties in Tokyo for 25 billion yen ($313 million) as its asset management unit prepares to set up a private real estate investment trust.
Contract talks between Consolidated Edison and locked-out workers will resume Friday and replacement crews will work to end additional brownouts as New York City swelters in a prolonged heat wave.
Skyrocketing sales of the Galaxy smartphone drove a record quarterly profit of $5.9 billion at Samsung Electronics . This is likely to stretch the firm's lead over rivals Apple and Nokia.
After the S&P 500 index's strongest three-day run this year, investors stepped back on Thursday, leaving the broad index and the Dow modestly lower. The Dow Jones industrial average fell 0.4 percent, the Standard & Poor's 500 Index dropped 0.5 percent and the Nasdaq Composite Index ended flat.
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