US stocks traded slightly higher Thursday as investors awaited key employment data, while fresh signals of labour market softness stoked expectations of a rate cut later this year.The S&P 500 rose 0.2% in early trading, while the Dow Jones Industrial Average was up 48 points, or 0.1%. The Nasdaq composite also gained 0.2%. Investors are focused on the US Labour Department’s monthly jobs report due Friday, which is expected to show that employers added 130,000 jobs in May — down from 177,000 in April.According to the Associated Press, markets were responding to early signs of weakening momentum in the labour market, along with uncertainty tied to President Donald Trump’s on-and-off tariff policy. Analysts say concerns over hiring slowdowns may prompt the Federal Reserve to cut interest rates later this year.Earlier this week, a report by payroll provider ADP showed that private employers added fewer jobs than expected, contributing to pressure on the Fed to act. On Thursday, the government was also set to release its weekly jobless claims report, a key indicator of layoffs.The Fed has held off on cutting rates so far this year after multiple reductions through 2024. Policymakers are monitoring the inflationary impact of Trump’s tariffs alongside broader economic risks. Trump recently urged Fed Chair Jerome Powell to move faster on rate cuts following the ADP data miss.In corporate news, Procter & Gamble shares were flat after confirming a plan to cut 7,000 non-manufacturing jobs — about 15% of its workforce — over two years as part of a restructuring strategy.Among other movers, teen discount retailer Five Below surged 6.5% after beating analyst forecasts on both revenue and profit and raising its full-year guidance. PVH Corp., the parent of Calvin Klein and Tommy Hilfiger, fell nearly 8% after it slashed its full-year profit outlook, citing tariff-related pressures.In global markets, France’s CAC 40 and Germany’s DAX each rose 0.3%, while the UK’s FTSE 100 gained 0.2%.In Asia, Japan’s Nikkei 225 dropped 0.5%, while South Korea’s Kospi jumped 1.5% after newly elected President Lee Jae-myung pledged to restart North Korea dialogue and strengthen ties with the US and Japan.Hong Kong’s Hang Seng gained 1.1%, the Shanghai Composite rose 0.21%, and Australia’s S&P/ASX 200 was flat.In commodities, US crude added 15 cents to $63 a barrel, while Brent crude gained 20 cents to $65.06 a barrel.In currency trade, the dollar climbed to 143.19 Japanese yen from 142.78. The euro was slightly higher at $1.1425, up from $1.1418.