US STOCKS-Futures rise ahead of crucial jobs report
* Futures up: Dow 40 pts, S&P 5.5 pts, Nasdaq 11.25 pts
By Yashaswini Swamynathan
Aug 5 (Reuters) - U.S. stock index futures were higher on Friday as investors awaited monthly payroll numbers to gauge the health of the economy and the likely timing of the next interest rate hike.
* The report from the U.S. Labor Department is expected to show that 180,000 jobs were added in July, compared with average monthly addition of 171,500 jobs over the first half of the year.
* The data is due at 8:30 a.m. ET (1230 GMT) and will include the rate of unemployment and wages.
* Unemployment is expected to have fallen 0.1 percent to 4.8 percent and average wages likely rose by 0.2 percent, according to Thomson Reuters data.
* The Federal Reserve's move to raise interest rates is contingent on a number of economic indicators, including a strong labor market and inflation meeting the central bank's 2 percent target.
* However, the markets have priced in little chance of the Fed raising rates this year as global growth worries persist.
* Traders see 9 percent odds of a rate hike in September and a 29.4 percent chance in December, according to CME Group's FedWatch tool. That number does not rise significantly even until July next year. Continuación...