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US pre-open: Futures point to small gains ahead of jobs data

By Iain Gilbert

Date: Friday 06 Dec 2019

US pre-open: Futures point to small gains ahead of jobs data

(Sharecast News) - US futures had stocks opening higher on Friday ahead of the release of the key monthly jobs report.
As of 1245 GMT, Dow futures were ahead 0.26%, while S&P 500 and Nasdaq-100 futures were up 0.24% and 0.38%, respectively.

The Dow closed 28.01 points firmer on Thursday with financial markets shrugging off the latest concerns around US-China trade relations, as well as ongoing impeachment proceedings against the President.

As far as Friday is concerned, market participants will by focussed on US employment data coming from the Department of Labor at 1330 GMT. Economists are expecting a reading of 187,000 jobs added in November.

Investors will also be highly attuned to global trade developments following upbeat remarks from Donald Trump the day before.

On Thursday, Trump said China and the US were drawing closer to a trade deal despite tariffs on another $156bn-worth of Chinese goods being set to go into effect on 15 December.

CMC Markets analyst David Madden said: "Yesterday we heard from President Trump that negotiations were 'moving right along'. We have heard this sort of language before, so Mr Trump is running the risk of becoming the boy who cried wolf.

"The positive sentiment is being capped by the fact that Mr Trump earlier this week claimed the trade deal might not be signed off until after the presidential election next year."

Also on the data front, the University of Michigan's preliminary consumer sentiment index will be released at 1500 GMT.

In corporate news, Big Lots and Hooker Furniture will both publish earnings on Friday.


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