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1. LONDON - Oil prices fell on Friday, pushing benchmark North Sea Brent crude down towards $50 a barrel, after a cut in European growth forecasts heightened worries over the outlook for demand at a time of huge oversupply.

2. U.S. stocks opened lower on Friday after the August jobs report showed moderate job growth and the lowest unemployment rate in more than seven years, increasing chances the Fed could raise interest rates sooner rather than later.

3. U.S. employers added 173,000 jobs in August, less than widely expected, but the unemployment rate still edged down to 5.1 percent, its lowest level since April 2008, the Labor Department said Friday. Meanwhile, wage growth - which has been stagnant for years -- edged up slightly more than anticipated to 2.2 percent.

4. The dollar turned moderately higher against against the other major currencies on Friday, after data showed that U.S. nonfarm payrolls rose less than expected last month, while the unemployment rate fell more than initially anticipated.

5. Average hourly earnings in the U.S. rose unexpectedly last month, official data showed on Friday. In a report, U.S. Bureau of Labor Statistics, Department of Labor said that Average hourly earnings in the U.S. rose to a seasonally adjusted 0.3%, from 0.2% in the preceding month. Analysts had expected Average hourly earnings to remain unchanged at 0.2% last month.

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Investors are showing signs of nerves ahead of the U.S. employment report, which could determine the timing of the first interest rate rise in a decade and shake markets around the world.

U.S. stock futures are falling, with the Dow Jones Industrial Average, Nasdaq and S&P all nearly 1% lower. Global markets were also weaker.

Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:

1) Economics

U.S. jobs report: The labor department is putting out its highly anticipated employment data at 8:30 a.m. ET. It's the last major piece of economic data likely to impact whether the Fed raises interest rates later this month. A strong jobs report could encourage the Fed to go ahead. The International Monetary Fund wants the U.S. to wait. 

2) Stock market movers

Netflix, Apple, Facebook: Investors are on edge and this nervousness is weighing on individual stocks. Netflix (NFLX, Tech30) is the biggest loser in premarket trading, down 2.7%. Apple (AAPL, Tech30), one of the most heavily traded stocks of recent days, is 1.3% lower, while Facebook lost 0.8% in premarket trading. 

3) More bad news from Europe

The European Central Bank on Thursday cut its forecasts for eurozone GDP growth this year and next, pointing the finger squarely at falling demand from China and other emerging economies. The ECB said it could increase its money printing program -- and that sent the euro sharply lower. It recovered slightly Friday to trade 0.3% firmer against the dollar.

4) International markets overview

European markets are all lower in early trading. Germany's DAX is down 1.4%, while the FTSE 100 in London is 1% lower.

Asian markets ended the session down. Chinese markets remain closed until Monday due to holiday.

Oil edged 1% down on Friday morning, trading at $46 per barrel. Oil prices have been very volatile in recent months, forcing some of the world's biggest oil producers, such as Russia and Venezuela, to call for more cooperation in order to stabilize the market.

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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.

When? At 10:00am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30 Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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What is it? This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

When? At 8:30 Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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What is it? It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.

When? At 8:30 Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

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