Wall Street futures pointed modestly higher pre-bell Friday as traders weighed the turmoil in the Middle East, mulled over higher oil prices, and awaited the upcoming jobs report from Washington. The September employment situation bulletin is set for an 8:30 am ET release, which is sure to be closely analyzed for clues regarding labor-market tightness and potential signals for future Federal Reserve policies.
In the futures market, the S&P 500 rose 0.2%, the Nasdaq inclined 0.3%, and the Dow Jones experienced a marginal increase. Key US crude oil prices tested $75 a barrel during morning trading amid concerns that Iranian crude production might face limitations. Asian exchanges traded choppily overnight, while European bourses showed modest gains by midday on the continent.
Spirit Airlines traded down more than 38% in pre-bell trading following media reports that the budget airline was in discussions with bondholders concerning a possible bankruptcy. Conversely, Apogee Enterprises saw an uptick of more than 6% in pre-bell trading after the distributor of architectural products reported fiscal Q2 earnings and revenues that exceeded expectations, in addition to raising its guidance.
On the economic calendar, alongside the jobs report, the Baker Hughes domestic oil-and-gas rig count is due at 1 pm. Federal Reserve New York President John Williams is scheduled to speak at 9 am. In premarket action, Bitcoin traded at $61,251, West Texas Intermediate crude oil increased to $74.85, and 10-year US Treasuries offered a yield of 3.87%.
Spot gold was trading at $2,659 an ounce. $SAVE $APOG $US30 $US500..