After closing mixed for two consecutive sessions, stocks are likely to move to the upside in early trading on Friday. The major index futures are currently pointing to a higher open for the markets, with the S&P 500 futures up by 0.4 percent.
Stocks may benefit from a positive reaction to the release of the Labor Department’s closely watched report on employment in the month of December.
With the report showing employment increased by less than expected in December, the data may generate optimism about the outlook for interest rates.
The Labor Department said non-farm payroll employment rose by 50,000 jobs in December after climbing by a downwardly revised 56,000 jobs in November.
Economists had expected employment to rise by 60,000 jobs compared to the addition of 64,000 jobs originally reported for the previous month.
Meanwhile, the report said the unemployment rate edged down to 4.4 percent in December from a revised 4.5 percent in November.
The unemployment rate was expected to slip to 4.5 percent from the 4.6 percent originally reported for the previous month.
While the Federal Reserve is still widely expected to leave interest rates unchanged at its next meeting later this month, the report may increase confidence in further rate cuts later this year.
Not long after the start of trading, the University of Michigan is scheduled to release its preliminary reading on consumer sentiment in the month of January. The consumer sentiment index is expected to inch up to 53.5 in January from 52.9 in December.
After ending yesterday’s lackluster session on opposite sides of the unchanged line, the major U.S. stock indexes turned in another mixed performance during trading on Thursday.
While the Dow moved back to the upside after Wednesday’s pullback, the tech-heavy Nasdaq closed lower for the first time in four sessions.
The Dow climbed 270.03 points or 0.6 percent to 49,266.11, bouncing back toward the record closing high set on Tuesday. The S&P 500 also crept up by 0.53 points or less than a tenth of a percent to 6,921.46, but the Nasdaq fell 104.26 points or 0.4 percent to 23,480.02.
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan’s Nikkei 225 Index jumped by 1.6 percent, while China’s Shanghai Composite Index advanced by 0.9 percent.
The major European markets have also moved to the upside on the day. While the French CAC 40 Index is up by 1.1 percent, the U.K.’s FTSE 100 Index is up by 0.8 percent and the German DAX Index is up by 0.5 percent.
In commodities trading, crude oil futures are rising $0.26 to $58.02 a barrel after spiking $1.77 to $57.76 a barrel on Thursday. Meanwhile, after edging down $1.80 to $4,460.70 ounce in the previous session, gold futures are climbing $36.40 to $4,497.10 an ounce.
On the currency front, the U.S. dollar is trading at 157.46 yen versus the 156.87 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.1647 compared to yesterday’s $1.1658.
Business News
U.S. Stocks May See Early Strength Following Jobs Data
2026-01-09 13:55:53
