US STOCKS-Wall St eyes higher open after sharp fall; service sector data awaited

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* Futures up: Dow 0.18%, S&P 0.22%, Nasdaq 0.31%

By Medha Singh
Oct 3 (Reuters) - Wall Street's main indexes were set for a
higher open on Thursday, after losing 3% in the past two
sessions on fears that the domestic economy was heading toward a
recession.
Investor attention is now on ISM's services data due later
in the day and a pivotal jobs report on Friday after dismal
manufacturing and hiring data earlier in the week showed the
U.S.-China trade war was hurting the U.S. economy.
The ISM services report due at 10:00 a.m. ET (1400 GMT) is
likely to show a reading of 55 in September, down from 56.4 in
August.
"If the contraction in manufacturing activity translates to
weakness in the far larger services sector, then it's time to
get seriously worried," said Hussein Sayed, chief market
strategist at FXTM.
The gloomy factory activity data and private jobs report
have led to two straight days of more than 1% drop in the
benchmark S&P 500 .SPX for the first time this year and set
the Dow .DJI on course for its worst week in four months.
The benchmark index is now nearly 5% below its all-time high
hit in July even though it came within striking distance of
that level two weeks ago.
At 7:13 a.m. ET, Dow e-minis 1YMcv1 were up 48 points, or
0.18%. S&P 500 e-minis EScv1 were up 6.25 points, or 0.22% and
Nasdaq 100 e-minis NQcv1 were up 23.5 points, or 0.31%.
PepsiCo Inc PEP.O rose 2.3% in premarket trading after the
company beat quarterly expectations as higher advertising and
new low-calorie versions of Gatorade boosted demand for its
beverages in North America. Shares of larger rival Coca-Cola KO.N gained 0.5%.
Tesla Inc TSLA.O shares dropped 4.7% as the electric-car
maker's quarterly deliveries missed analysts' estimates.
GoPro Inc GPRO.O tumbled 17.5% after the action camera
maker cut its revenue and profit forecasts for the rest of the
year, hit by a delay in the production of its latest Hero8 Black
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Signs of a brewing recession https://graphics.reuters.com/USA-ECONOMY/0100801801Z/index.html
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