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Morning Briefing: 10 Things You Should Know

NEW YORK ( TheStreet) -- Here are 10 things you should know for Friday, Aug. 2:

1. -- U.S. stock futures were rising Friday ahead of a jobs report in the U.S. that is expected to show a fourth-straight month of employment gains.

European stocks were trading higher. Asian shares ended Friday's session to the upside. Japan's Nikkei 225 index jumped 3.3% to close at 14,466.16.

2. -- The economic calendar in the U.S. Friday includes the nonfarm payrolls report for July at 8:30 a.m. EDT, personal income and personal spending for June at 8:30 a.m., and factory orders for June at 10 a.m.

3. -- U.S. stocks on Thursday finished with gains and the S&P 500 crossed 1,700 for the first time in its history after an encouraging U.S. jobless claims report and solid corporate earnings.

The S&P 500 surged 1.25% to close at 1,706.87 after reaching as high as 1,707.85. The Dow Jones Industrial Average advanced 0.83% to 15,628.02. The Nasdaq jumped 1.36% to 3,675.74

4. -- LinkedIn's (LNKD - Get Report) second-quarter earnings results topped Wall Street forecasts, as the professional networking site posted a profit of 38 cents a share on revenue of $363.7 million, a 59% increase from a year earlier.

LinkedIn forecast revenue for the current quarter that trailed forecasts. The company said it is expecting sales in a range of $367 million to $373 million, trailing an average analyst projection for $383.3 million, according to data compiled by Bloomberg.

5. -- Chevron (CVX - Get Report) is expected by Wall Street to report on Friday second-quarter earnings of $2.96 a share on revenue of $56 billion.

In the year-earlier quarter, the oil giant earned $7.21 billion, or $3.66 a share, on revenue of $60.61 billion.

Rivals Exxon Mobil (XOM) and Royal Dutch Shell (RDS.A) reported Thursday sharply lower second-quarter profit amid struggles to boost production.

6. -- Motorola, acquired by Google (GOOG) last year, introduced the Moto X phone.

Motorola is assembling the Moto X in Texas, making it the first smartphone to be put together in the United States.

The Moto X phone allows for a lot of customization by the user, from the color of the power button to a personalized message on the back cover.

7. -- Toyota (TM - Get Report) said Friday that fiscal first-quarter profit nearly doubled on a weaker yen and it set a worldwide production goal for the 2013 calendar year at 10.1 million vehicles, which would be an industry record, according to The Associated Press.

The Japanese automaker also raised its full-year earnings forecast to 1.48 trillion yen ($14.8 billion), up almost 54% from the previous year.
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