Stock Futures Climb Following Jobs Data

Updated from 7:48 a.m. EDT

Stock futures turned higher ahead of a truncated Thursday session as the government's monthly jobs data registered a more benign reading than many traders had been fearing.

Futures for the S&P 500 were up 8 points at 1271 and were 9 points ahead of fair value. Nasdaq futures were better by 6 points at 1831 and were 7 points below fair value.

The mood improved after the Labor Department said the U.S. shed 62,000 last month, roughly in line with the consensus target for a 55,000 decline. The unemployment rate stayed at 5.5%, whereas a downtick to 5.4% had been expected. ...