US equity futures indicate a positive opening ahead of the national employment situation report for October. The Standard & Poor's 500 and the Dow Jones Industrial Average both show an increase of 0.3%, while the Nasdaq is up by 0.4% in premarket trading. Meanwhile, Asian exchanges are predominantly in the red, with European markets showing upward trends as midday approaches on the continent. The jobs report set for release at 8:30 am ET is anticipated to reflect nonfarm payroll growth of 106,000 for October.
This figure signifies a slowdown from the previous month's gain of 254,000, based on a consensus forecast compiled by Bloomberg. In addition to the employment data, Friday's economic calendar includes the October purchasing managers' index for manufacturing from S&P Global, due at 9:45 am, followed by the Institute for Supply Management's equivalent report at 10 am.
The construction spending report for September will also be released at 10 am. The Baker Hughes weekly report on domestic oil-and-gas rig counts will be available at 1 pm. Furthermore, Federal Reserve Bank of Dallas President Lorie Logan is scheduled to address the public at 9:45 am. Amazon.com shares surged by 6.7% following the e-commerce leader's impressive third-quarter results that exceeded Wall Street's expectations.
Conversely, Apple saw a decline of 1.1% despite achieving better-than-expected outcomes for its fiscal fourth quarter. Intel experienced a 6% increase as the chipmaker provided a promising outlook for its fourth-quarter earnings. Boeing's stock rose by 2.4% after news emerged about a new tentative agreement on a labor contract between the plane manufacturer and striking union leaders. Major oil companies Exxon Mobil and Chevron are set to disclose their latest financial results before the trading day starts.
Other firms including Enbridge, Simon Property Group, Dominion Energy, Charter Communications, Cardinal Health, Church & Dwight, and Wayfair will also share their earnings. As trading begins, bitcoin shows a 0.6% decrease to $69,888, while West Texas Intermediate crude oil has risen by 2% to $70.66 a barrel.
Yields on 10-year Treasuries saw a slight increase of 1.3 basis points, nearing 4.3%. Gold prices edged up by 0.3% to $2,756 an ounce..