Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Dow Futures Rise 110 Pts Ahead of Jobs Report

Stock MarketsDec 04, 2020 07:04AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters

By Peter Nurse   

Investing.com - U.S. stocks are seen opening higher Friday, maintaining the recent positive tone ahead of the release of the influential monthly employment report.  

At 7:05 AM ET (1205 GMT), the Dow Futures contract rose 110 points, or 0.4%, S&P 500 Futures traded 11 points, or 0.3%, higher, and Nasdaq 100 Futures climbed 46 points, or 0.4%. 

The major indices are on course to record another positive week, with investors buoyed by the rapid progress towards the global rollout of Covid-19 vaccines as well as by apparent movement toward a stimulus package. 

A record $115 billion was poured into equity funds in the past four weeks, the Bank of America (NYSE:BAC) said, citing data from EPFR. Equity funds saw $9.7 billion of inflows for the week ending Dec 2.

Pfizer (NYSE:PFE), along with partner BioNTech, insisted Thursday it was still on course to roll out 1.3 billion vaccines in 2021, after earlier cutting its production expectation for 2020 by 50 million. Additionally, Moderna (NASDAQ:MRNA) said it expects to supply up to 125 million doses of its vaccine around the world in the first quarter of 2021.

On Capitol Hill, the recently introduced bipartisan $908 billion coronavirus aid plan appeared to be gathering more support, with Senate majority leader Mitch McConnell saying a deal was “within reach”.

These lawmakers may receive more pressure to come to a compromise when the monthly official employment report is released at 8:30 AM ET (1230 GMT).

Nonfarm payrolls are expected to show an addition of 469,000 jobs for November compared with 638,000 for October, showing that the jobs recovery is slowing. 

ADP’s monthly payrolls report on Wednesday showed private payrolls grew at their slowest pace since July.

Oil prices gained Friday, climbing to eight-month highs, after the Organization of the Petroleum Exporting Countries and Russia, a group known as OPEC+, agreed late Thursday to ease production cuts by 500,000 barrels per day from January 2021. The group had originally planned to raise output by 2 million barrels a day. 

The group will also meet once a month to review conditions, but stated that any monthly increases will not be greater than 500,000 barrels per day. 

U.S. crude futures traded 1.2% higher at $46.18 a barrel, while the international benchmark Brent contract rose 1.2% to $49.27, with the two benchmarks heading for their fifth consecutive week of gains.

Elsewhere, gold futures rose 0.2% to $1,845.45/oz, on track to snap a three-week losing streak, while EUR/USD traded 0.2% higher at 1.21566 having hit a new 31-month high overnight.

 

Dow Futures Rise 110 Pts Ahead of Jobs Report
 

Related Articles

Evergrande's billionaire boss exudes calm amid crisis
Evergrande's billionaire boss exudes calm amid crisis By Reuters - Sep 24, 2021

By Clare Jim HONG KONG (Reuters) - Mingling with power brokers at celebrations to mark the centenary of the Chinese Communist Party on July 1, a beaming Hui Ka Yan showed no signs...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (3)
Zack Harding
Zack Harding Dec 04, 2020 8:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Media is full of non-investors that grab at any change or event to try to explain or tout perfectly normal variations in the market. Nobody with brains listens.
perplexed76 .
perplexed76 . Dec 04, 2020 8:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
like they care about jobs report
VFor Vendetta
V4Vendetta Dec 04, 2020 8:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
haha, you right. they knew the data far earlier than it is released =D
perplexed76 .
perplexed76 . Dec 04, 2020 8:01AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
VFor Vendetta  i mean they interpret any report in their way
Fahmi Yazit
Fahmi Yazit Dec 04, 2020 7:34AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Still the the most fraud in the world. Curse u collapse in the near future.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email