Investors Await Key Employment Data as US Futures Flat in Friday's Premarket

MT Newswires Live
06 Dec 2024

US stock futures were flat in Friday's premarket session as investors awaited key November employment data, including the employment rate, non-farm payrolls, and average hourly earnings.

Dow Jones Industrial Average futures were off 0.08%, S&P 500 futures were also down 0.08%, while Nasdaq futures were unchanged.

Oil prices were moving lower, with front-month global benchmarks Brent crude and West Texas Intermediate crude declining 0.92% and 0.97% respectively.

The unemployment rate is expected to rise slightly to 4.2% in November from 4.1% the previous month, according to Bloomberg.

Non-farm payrolls, which tracks the change in the number of people employed excluding farm workers, are expected to rise to 202,000 in November from 12,000 in October.

And average hourly earnings, which measure the change in how much businesses pay for labor excluding the agricultural sector, are expected to rise 0.3%, compared with a 0.4% increase a month earlier.

Among gaining stocks, Universe Pharmaceuticals (UPC) soared 180%, compared with a 41% loss on Thursday. Avalon GloboCare's (ALBT) shares jumped 96%, adding to a 4.7% gain the previous session. And shares of Zhibao Technology (ZBAO) advanced 75% after rising 2.4% Thursday.

On the losing side, Oriental Rise (ORIS) shares tumbled 80% after gaining nearly 600% on Thursday. Shares of BTC Digital (BTCT) plunged 35% after the blockchain technology company priced a public offering at $8 per share for gross proceeds of about $20 million. And shares of CAMP4 Therapeutics (CAMP) tumbled 25% after surging 66% the previous day.

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