Stock futures rise ahead of jobs report

U.S. stock index futures moved higher Friday morning ahead of key readings on monthly jobs numbers and the manufacturing sector.

At around 7:35 a.m. ET, Dow Jones Industrial Average futures pointed to a gain of 42 points at the open. S&P 500 and Nasdaq 100 futures also indicated gains at the open.

The Labor Department is scheduled to release the October jobs report at 8:30 a.m. ET. Economists polled by Dow Jones expect a gain of 75,000 jobs for the previous month.


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At 10 a.m. ET, the Institute for Supply Management is expected to release data on U.S. manufacturing activity for October. U.S. manufacturing fell to its lowest level in a decade in September amid lingering worries around U.S.-China trade talks.

Trade dented stocks on Thursday — the last day of October — after Bloomberg News reported Chinese officials have been casting doubt over the possibility of a long-term trade deal with the U.S. The Dow fell more than 100 points Thursday while the S&P 500 dipped from a record.

The corporate earnings season continued on Friday, with Exxon Mobil reporting earnings that topped analyst expectations. Exxon Mobil shares climbed 1.2% in the premarket.

U.S. Steel shares rose around 5% after the company posted Thursday afternoon a smaller-than-expected quarterly loss. Qorvo also reported better-than-expected results and issued strong guidance for the current quarter, sending its stock up more than 10%.

Around 70% of S&P 500 companies have reported quarterly numbers thus far, according to FactSet. Of those companies 75% have reported better-than-expected earnings.

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