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Stock Futures Robust Pre-Bell Ahead of April Jobs Report; Asia Churns, Europe Gains
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Stock Futures Robust Pre-Bell Ahead of April Jobs Report; Asia Churns, Europe Gains
May 3, 2024 4:35 AM

07:10 AM EDT, 05/03/2024 (MT Newswires) -- The benchmark US stock measures were robustly trending upwards before the opening bell Friday, as traders await the national employment situation report for April.

The S&P 500 futures rose 0.4%, the Nasdaq gained 0.6% and the Dow Jones Industrial Average added 0.8% in premarket activity. Asian exchanges were mixed to lower while European bourses were tracking in the green.

The jobs report for April will post at 8:30 am ET. Government data are expected to show nonfarm payroll growth of 243,000 last month, which would mark a drop from a 303,000 increase reported in March, according to a consensus compiled by Bloomberg.

Also on Friday's economic calendar, the April purchasing managers' index composite final report from S&P Global is out at 9:45 am, followed by the ISM Services gauge for the same month at 10 am. The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm.

Federal Reserve Bank of New York President John Williams and Chicago Fed President Austan Goolsbee are scheduled to speak at a panel at 7:45 pm.

Apple's (AAPL) shares advanced 6.1% pre-bell after the technology giant's fiscal second-quarter earnings surprisingly increased from last year, despite a slowdown in iPhone sales. Amgen (AMGN) jumped 15% as it nudged higher the low end of its full-year revenue outlook, while Block (SQ) gained 7.3%. Cloudflare (NET) dropped 14% as the company recorded a wider first-quarter operating loss.

Hershey (HSY), Trimble (TRMB), Magna International (MGA), XPO (XPO), Cboe Global Markets (CBOE), Fluor (FLR), Frontier Communications Parent (FYBR) and Essent Group (ESNT) are set to report their latest financial results before the bell, among others.

Before the open, bitcoin declined 0.5% to $58,899, West Texas Intermediate crude rose edged up 0.2% to $79.14 a barrel, yields on 10-year Treasuries decreased 0.6 basis points to 4.57% and gold dipped less than 0.1% at $2,309 an ounce.

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