US stock futures rose Friday morning after The main averages fell for the fourth dayInvestors looked to the October jobs report for clues to the pace of future rate hikes from the Federal Reserve.
Dow Jones Industrial Average futures rose 111 points, or 0.35%. S&P 500 futures are up 0.52%, while Nasdaq 100-related futures are up 0.82%.
Investors sucked up a slew of corporate earnings reports in extended trading. Mobile Payment Inventory roadblock It rose 13% after exceeding expectations On the top and bottom lines in the third quarter results. shares Carvana It fell more than 9% after the company posted a larger-than-expected loss and beat sales expectations.
During the regular session Thursday, the Dow Jones Industrial Average fell 146.51 points, or about 0.5%. The S&P 500 lost nearly 1.1%, while the Nasdaq Composite fell 1.7%. Investors weighed the recent 0.75 percentage point interest rate hike from the Federal Reserve, as well as a comment from Chairman Jerome Powell suggesting that the pivot could be far from what traders had been expecting.
The October Nonfarm Payrolls Report Friday will provide investors with more clues about the state of the economy, and how much work the central bank is waiting for to bring down inflation. Economists polled by Dow Jones expect that 205,000 jobs were added last month and expect the unemployment rate to stabilize at 3.5%.
“They’re trying to squash demand, making tomorrow’s job count critical, because if you get a good job count in terms of things that haven’t deteriorated on the job front, that makes a really tough job for you. [the central bank] That’s a lot more than that, Jay Adami of the Special Advisers Group said Thursday on CNBC’s “Fast Money.”
Investors are also anticipating AMC Networks’ third-quarter report before the bell on Friday.
All major averages are on their way to close the week with losses. During Thursday, the Dow was down 2.62%, and is set to end four weeks of gains.
The S&P and Nasdaq are down 4.64% and 6.84%, respectively, on track to break their two-week winning streak. The tech-heavy Nasdaq is on track for its worst weekly performance since January 2022.