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.


— RECOMMENDED —

America’s #1 Stock Picker Reveals His Next 10x Stock – Free

Legendary investor reveals the secret behind his “PRO System” to find the market’s next 1,000%+ gain… and gives away his #1 favorite stock right now.

GET THE FULL DETAILS HERE


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.

Source: cnbc.com | Original Link

Leave a Reply