Stock Futures Rise Ahead of Jobs Report - InvestingChannel

Stock Futures Rise Ahead of Jobs Report

Stock futures rose Friday as investors looked ahead to the October jobs report for clues into the pace of future rate hikes from the Federal Reserve.

Futures for the Dow Jones Industrials popped 173 points, or 0.6%, to 32,190.

Futures for the S&P 500 gathered 25 points, or 0.7%, to 3,752.75.

Futures for the NASDAQ Composite leaped 68.75 points, or 0.7%, to 10,796.75.

All the major averages are on track to close out the week with losses. As of Thursday’s close, the Dow is down 2.6%, and set to end four weeks of gains. The S&P is caving 4.6% and NASDAQ is down 6.8%, on pace to break two-week winning streaks. The tech-heavy NASDAQ is also on course for its worst weekly performance since January 2022.

Corporate earnings season continued, with mobile payment company Block surging 13% after beating expectations. Carvana shared dropped as it posted a wider-than-expected loss. Investors are also expecting a third-quarter report from AMC Networks before the bell Friday.

The October non-farm payrolls report on Friday will give investors further clues into where the economy stands, and how much work the central bank has ahead of it to bring down inflation. Economists polled by Dow Jones expect 205,000 jobs were added last month and predict that the unemployment rate held steady at 3.5%.

In Japan, the Nikkei 225 returned from holiday and duped 1.7%, while in Hong Kong, the Hang Seng Index bounced 5.4% Friday.

Oil prices hiked $3.61 to $91.78 U.S. a barrel.

Gold prices jumped $22.80 to $1,653.70 U.S. an ounce.

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