Wall Street futures steady ahead of jobs report

NEW YORK -- Stock futures are holding steady as investors await the government's report on October employment.

The report from the Labor Department is considered a key gauge of the health of consumer spending, a major component of economic activity. So long as consumers are worried about losing their jobs, they will continue to clamp down on spending.

Economists forecast a decline of around 175,000 jobs during October. The unemployment rate is expected to rise to 9.9 percent.

Ahead of the market's open, Dow Jones industrial average futures are up 5 at 9,959. Standard & Poor's 500 index futures are up 0.60 at 1,063, while Nasdaq 100 index futures are up 2 at 1,721.

-- The Associated Press