A Peek Into The Markets: US Stock Futures Jump, All Eyes On Jobs Report

Pre-open movers

U.S. stock futures traded higher in early pre-market trade.

Data on nonfarm payrolls and unemployment rate for December will be released at 8:30 a.m. ET, while US Services Purchasing Managers’ Index for December is schedule for release at 9:45 a.m. ET. Federal Reserve Chairman Jerome Powell is set to speak in Atlanta, Georgia at 10:15 a.m. ET, while Atlanta Federal Reserve Bank President Raphael Bostic will speak in Atlanta, GA at 10:15 a.m. ET.

Futures for the Dow Jones Industrial Average surged 300 points to 22,964.00, while the Standard & Poor’s 500 index futures traded rose 34.5 points to 2,483.00. Futures for the Nasdaq 100 index climbed 107.50 points to 6,272.25.

Oil prices traded higher as Brent crude futures rose 2.52 percent to trade at $57.36 per barrel, while US WTI crude futures climbed 2.31 percent to trade at $48.18 a barrel. The Energy Information Administration’s weekly report on natural gas stocks in underground storage is schedule for release at 10:30 a.m. ET, while the EIA’s weekly report on petroleum inventories in the U.S. will be released at 11:00 a.m. ET. The Baker Hughes North American rig count report for the recent week is schedule for release at 1:00 p.m. ET.

A Peek Into Global Markets

European markets were higher today, with the Spanish Ibex Index rising 1.75 percent, STOXX Europe 600 Index climbing 1.46 percent and German DAX 30 index gained 1.81 percent. The UK’s FTSE index was trading higher by 1.39 percent, while French CAC 40 Index rose 1.34 percent.

In Asian markets, Japan’s Nikkei Stock Average fell 2.26 percent, Hong Kong’s Hang Seng Index rose 2.24 percent, China’s Shanghai Composite Index climbed 2.05 percent and India’s BSE Sensex rose 0.51 percent.

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