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Sep 2, 2011 8:28 AM by Kate Richards

Stocks falling in wait for jobs report

U.S. stock futures are falling as anxious traders await a key report on hiring and employment in August.

The Labor Department reports at 8:30 a.m. Eastern on the number of jobs created in August. Economists surveyed by FactSet expect that the economy added 93,000 jobs, not enough to reduce the 9.1 percent unemployment rate.

Global markets sank ahead of the report. European stocks tumbled as negotiations about Greece's shaky finances appeared to break down.

Volume will likely be thin because of the holiday weekend. That means sharp swings are possible if the jobs report surprises.

Ahead of the jobs report, stock index futures are down 0.6 percent. S&P 500 futures are down 7.9 points at 1,193. Dow futures are down 65 at 11,400. Nasdaq 100 futures are off 14 at 2,203.

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