US pre-open: Markets wait for key jobs data

US markets were fluctuating ahead of key jobs data due out before the markets opened.

Before the open, the Dow Jones Industrial Average was up 14 points, while the S&P 500 and the Nasdaq were one and three points higher respectively.

At 1330 GMT the all-important unemployment figures as well as non-farm payrolls data is due.

Turbulent trading ahead of Chinese New Year

Elsewhere, trading in Asia moved in various directions on Friday, with traders preparing for US jobs numbers and a thin week of trading next week with the Chinese New Year holiday.

Markets were also looking across the Pacific to the United States, with lower expectations for further rate increases from the Federal Reserve this year weakening the dollar and giving commodities a mild boost.

"What's worrying the markets is some Fed policy makers' belief that recent developments aren't sufficiently serious or persistent to warrant a material change in the central bank's outlook and view on the gradual path of the rate hike cycle", said IG market strategist Bernard Aw.

Forecasts for US unemployment figures and non-farm payrolls were for a sizeable decrease in the change in non-farm payrolls, to 190,000 from 292,000 last month.

In mainland China, the markets were relatively quiet as Chinese went from the trading floors to massive queues outside train stations for the week-long Lunar New Year holiday.

The week is the busiest for travel in the populous nation, as Chinese travel back to their home towns.

European stocks wavered in a tight range, with investors opting for caution following disappointing German data and ahead of the all-important non-farm payrolls report.

Oil prices continued to bubble up, with West Texas Intermediate up 1.29% to $32.13 a barrel and Brent rising 0.78% to $34.73.

The dollar was up 0.28% against the pound and 0.09% against the euro, but had dropped 0.02% against the yen. Spot gold was up 0.27% to $1,158.74.

In company news, shares in LinkedIn fell over 31% after the social media company late on Thursday forecast slower growth for the year.

Meanwhile Symantec shares jumped 9% when it revealed Silver Lake will be giving it a $500m cash injection.