Stocks look firm ahead of jobs report

NEW YORK (CNNMoney) — U.S. stocks were headed for early gains Friday, ahead of the government’s monthly jobs report — one of the most closely-watched economic indicators on Wall Street.

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were higher ahead of the opening bell. Futures measure current index values against perceived future performance.

On Thursday, U.S. stocks closed the first quarter of 2011 slightly higher, with investors remaining in a holding pattern ahead of Friday’s jobs report.

Stocks posted solid gains the first three months of the year, despite geopolitical turmoil in the Middle East and the March earthquake and nuclear crisis in Japan — all on top of lingering concerns about the U.S. economy.

In the first quarter, the Dow rose 6.5%, the S&P 500 added 5.6% and the Nasdaq gained 4.8%.

Investors are hoping a major employment report Friday will help continue the streak. At 8:30 a.m. ET, the government will release its key monthly jobs report. A CNNMoney survey of 18 economists forecasts a 180,000 jump in payrolls for March, with the unemployment rate holding steady at 8.9%.

Economy: Also on tap for Friday morning, the Institute for Supply Management’s March manufacturing index and the Commerce Department’s February construction spending report will be released at 10 a.m.

Economists expect the ISM manufacturing index to remain steady at a reading of 61.4, while construction spending is expected to fall by 0.7%.

Companies: Major automakers including General Motors (GM), Ford (F, Fortune 500) and Toyota (TM) will release their monthly sales reports after the start of trade.

World markets: Asian markets ended the session mixed. The Shanghai Composite rose 1.3%, and the Hang Seng in Hong Kong added 1.2%. But Japan’s Nikkei eased 0.5%, after a report showed auto sales in the nation plunged 37% in March.

European stocks rose in morning trading. Britain’s FTSE 100 rose 0.7%, the DAX in Germany gained 0.9% and France’s CAC 40 edged higher 0.5%.

Currencies and commodities: The dollar rose against the euro, the Japanese yen and the British pound.

Oil for May delivery rose 31 cents to $107.03 a barrel.

Gold futures for June delivery slipped $4.20 to $1,435.70 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.48% from 3.45% late Thursday.