Futures rise on bounce in China factory activity; U.S. jobs report awaited
U.S. stock index futures gained on Friday as a surprise rise in China's manufacturing activity boosted sentiment, while investors awaited a crucial U.S. jobs report.
U.S. stock index futures gained on Friday as a surprise rise in China's manufacturing activity boosted sentiment, while investors awaited a crucial U.S. jobs report.
A wide swath of the U.S. travel and leisure industry is set to provide insight next week on the state of the economy, including trends in consumer spending, fallout from U.S.-China trade tensions and any damaging impact from the stronger U.S. dollar.
British car dealership Lookers said on Friday its top boss and operations chief will step down immediately after weak sales led to a second profit warning in less than four months, sending its shares down as much as 30% and rattling peers.
U.S. stock index futures extended gains on Friday after data showed domestic job growth slowed less than expected in October, adding to optimism spurred by strong manufacturing data out of China.
Chevron Corp reported a 36% drop in third-quarter profit on Friday as the oil major was hit by lower oil and gas prices due to record shale oil output in North America and a slowing global economy.
Exxon Mobil Corp's third-quarter profit nearly halved, hit by lower oil prices and weaker margins in refining and chemicals, with its three major business reporting lower year-over-year profit.
U.S. job growth slowed less than expected in October as the drag from a strike at General Motors was offset by gains elsewhere, while hiring in the prior two months was stronger than previously estimated, offering assurance that consumers would continue to prop up the slowing economy for a while.
Oil prices rose on Friday on signs of progress in U.S.-China trade talks and a surprise bounce in Chinese manufacturing activity.
The initial "phase one" trade pact with China appears to be in good shape and is likely to be signed around mid-November, although a finite date is still in question, U.S. Commerce Secretary Wilbur Ross said on Friday.
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Shares globally were just 2.5% short of an all-time high on Friday, as a surprise bounce in Chinese manufacturing and some reassuring U.S. jobs numbers eclipsed a blizzard of otherwise sickly global data.
Alphabet Inc-owned Google will buy fitness tracker pioneer Fitbit Inc for $2.1 billion, as the search giant takes on Apple and Samsung in the fast-growing market for wearable devices.
Nasdaq's Nordic and Baltic stock markets were halted by technical problems for a second time on Friday, only minutes after trading resumed following earlier problems.