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) 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) 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) 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.

8. -- American International Group ( AIG), the insurance giant, posted a 17% increase in second-quarter net income, declared a 10-cent dividend and said its board approved a share buyback plan of up to $1 billion.

9. -- The International Trade Commission said Thursday it would delay a decision on whether some mobile phones and tablets made by Samsung infringe on Apple's ( AAPL) patents, Reuters reported.

The decision had been expected on Thursday but was put off until Aug. 9. No reason was given for the delay.

10. -- The U.S. is closing its embassies and consulates throughout the Muslim world on Sunday after receiving an unspecified threat, officials said. The action is being taken out of an "abundance of caution," the officials said.

State Department spokeswoman Marie Harf cited information indicating a threat to U.S. facilities overseas and said some diplomatic facilities may stay closed for more than a day.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

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Copyright 2013 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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