In Friday's trading session, US stocks are poised to open higher as investors assess crucial inflation and manufacturing data released earlier in the day. The futures for the Dow Jones Industrial Average rose by 0.54%, while the S&P 500 and Nasdaq futures gained 0.53% and 0.54%, respectively. Oil prices also saw an uptick, with Brent crude oil and West Texas Intermediate crude increasing by 1.80% and 1.95% correspondingly. The unemployment rate for October held steady at 4.1%, aligning with analyst expectations.
However, non-farm payrolls recorded a modest addition of just 12,000 jobs in October, significantly lower than the Bloomberg estimate of 106,000. The US Bureau of Labor Statistics suggested that payroll employment estimates might have been impacted by the effects of Hurricanes Helene and Milton. Yet, it stated that quantifying the net impact on the monthly change in national employment was challenging. Additionally, the BLS reported a decrease in manufacturing employment by 46,000 in October, primarily due to a decline of 44,000 in transportation equipment manufacturing, which was largely driven by strike actions. On the global stage, Japan's Nikkei index faced a decline of 2.63%, while Hong Kong's Hang Seng index rose by 0.93%.
The Shanghai Composite index in China saw a decrease of 0.24%. In Europe, during the early afternoon session, the UK's FTSE 100 advanced nearly 1%, and Germany's DAX and France's CAC increased by 0.61% and 0.78%, respectively. In the equities market, shares of Globalstar surged by 43% following a regulatory filing indicating an update to its service agreements with Apple to enhance its mobile satellite services network.
Theriva Biologics experienced a 40% jump, having been named one of the five finalists for Merck's Advance Biotech Grant. Meanwhile, Athira Pharma shares rose by 34%, recovering from a 5% decline the previous day. Pro-Dex saw its stock climb by 27% after announcing it turned a profit in fiscal Q1. Atlassian shares grew by 24% after reporting fiscal Q1 earnings and revenue that exceeded analyst predictions. Conversely, on the downside, ESSA Pharma's stock plummeted by 69% after announcing the termination of a phase 2 trial evaluating a treatment for metastatic castration-resistant prostate cancer.
Lexicon Pharmaceuticals encountered a 40% drop in shares following the FDA's denial of a new drug application for Zynquista, intended for glycemic control in adults with type 1 diabetes and chronic kidney disease, citing that the risks outweighed the benefits. Advent Technologies shares fell by 20% after a significant 34% gain the previous day.
CIMG's stock dropped 17%, reversing part of its 32% increase, while shares of Visionary Holdings were down by 13%, following a 5% decline in the prior session..