The June jobs report, set for release Thursday, is expected to end the holiday-shortened week with a bang. Any labor market weakness will be closely watched as it could strengthen the case for an interest rate cut from the Federal Reserve sooner rather than later.

U.S. stock futures showed modest upward movement on Thursday as traders prepared for the release of June’s critical nonfarm payroll report. At the same time, market participants weighed the implications of the newly announced trade agreement between the United States and Vietnam.