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The Dow Jones Industrial Average on a fourth consecutive day, extending a recent rally ahead of a closely watched jobs report. Hopes for a softening trade between China and the United States helped late October.
How are benchmarks performing?
Futures for the Dow Jones Industrial Average
YMZ8, + 0.96%
were trading 230 points, or 0.9%, higher at 25.556, and those for the S & P 500 index
ESZ8, + 0.73%
were advancing 19.65 points, or 0.7%, at 2,757.75, while Nasdaq-100 futures
NQZ8, + 0.13%
climbed a more tepid 0.1%, or 8.25 points, at 7,088.
On Thursday, the Dow
DJIA, + 1.06%
rose 264.98 points, or 1.1%, to 25.380.74, while the S & P 500
SPX, + 1.06%
gained 28.63 points, or 1.1%, to 2,740.37. The Nasdaq Composite Index
COMP + 1.75%
added 128.16 points, or 1.8%, to 7,434.06.
Stocks rallied this week but ended up weakening for October, with the S & P 500 shedding 6.9% for the month of September. The Dow dropped 5.1% in its revenue growth since January 2016, and the Nasdaq was the worst- performing major benchmark, sliding 9.2% for its biggest fall since November 2008.
What's driving the market?
Investors are eagerly awaiting the October employment report at 8:30 am Eastern Time, with many anticipating that the Federal Reserve will tighten monetary policy more quickly if inflationary pressures are shown to be building. The market is expecting 208,000 jobs, with a market share of 3.7%, according to marketWatch. Investors may focus on average hourly earnings for inflation, with estimates for a gain of 0.1% for the month.
Opinion: On the economy and rates, the Fed looks lost in the stars
Meanwhile, US stocks have added to a rebound that began on Monday, with a reversal of carnage in October. nerves.
On Thursday, Donald Trump President tweeted that he had a "long and very good conversation" with Chinese President Xi Jinping and news outlets in China. The phone conversations come ahead of a late-November meeting that is anticipated to take place on the sidelines of a G-20 summit of world leaders, where the pair could iron out differences.
Friday's trade action also comes after Apple posted results that were better than expected but disappointed Wall Street on its outlook and said it would not be out of date maker lower in premarket trade.
What stocks were in focus?
Shares of Apple
AAPL, + 1.54%
were down 5.3% in premarket trade.
What were analysts saying?
"Wall Street climbed for a third session, buoyed by hopes that the US and China may restart trade talks. Both the S & P 500 and the Dow Jones gained 1.06%, while the Nasdaq Composite rose by 1.75%. The positive sentiment, as S & P, Dow, and Nasdaq are all pointing to a much higher open today, "wrote Andreas Georgiou, an investment analyst at multi-asset brokerage firm XM, in a Friday research note.
What other data were ahead
A report on the trade deficit for September is scheduled at the same time.
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