US STOCKS-Futures rebound ahead of pivotal jobs data

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* Futures up: Dow and S&P 0.3%, Nasdaq 0.2%

By Medha Singh and Shashank Nayar
March 5 (Reuters) - U.S. stock indexes firmed on Friday
after a three-day pullback for the S&P 500 and the Nasdaq, as
investors looked to data that is likely to show accelerated jobs
growth in February.
The crucial nonfarm payrolls report is expected to show the
U.S. economy benefited from falling new COVID-19 cases,
quickening vaccination rates and additional pandemic relief
money from the government. However, the report will also be a reminder that the
recovery in the labor market is excruciatingly slow. Federal
Reserve Chair Jerome Powell on Thursday maintained the central
bank's dovish stance to support maximum employment and said
inflation was not a worry at the moment. His comments disappointed investors who expected him to act
on the recent spike in the U.S. 10-year Treasury yield
US10YT=RR that has set the S&P 500 and the Nasdaq on course
for their third straight weekly decline.
Benchmark 10-year U.S. Treasury yields US10YT=RR shot back
above 1.5% mark, closing in on its highest level since
mid-February last year.
The tech-heavy Nasdaq on Thursday slipped into negative
territory on the year, ending just short of 10% from its Feb. 12
intraday record high that would confirm a correction.
At 6:38 a.m. ET, Dow E-minis 1YMcv1 were up 87 points, or
0.28%, S&P 500 E-minis EScv1 were up 10.25 points, or 0.27%
and Nasdaq 100 E-minis NQcv1 were up 23.25 points, or 0.19%.
Investors are also keeping an eye on progress in President
Joe Biden's a $1.9 trillion coronavirus aid bill with a sharply
divided U.S. Senate expected to begin a contentious debate on
Friday on the legislature. In a bright spot were energy companies including Chevron
Corp CVX.N and Exxon Mobil Corp XOM.N which firmed about 2%
each as oil prices jumped to a near 14-month high. O/R
Shares of Broadcom Inc AVGO.O fell about 2.6% after the
company reported chip sales slightly below analysts' estimates,
joining a growing list of chip industry peers hit by a global
semiconductor shortage. Costco Wholesale Corp COST.O dropped 1.6% after the
warehouse club operator missed estimates for second-quarter
profit.