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Amazon.com ( AMZN ) jumps as retail strength boosts profit

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Chevron ( CVX ), Exxon rise after results

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Nonfarm payrolls due at 8:30 a.m. ET

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Futures up: Dow 0.33%, S&P 500 0.35%, Nasdaq 0.41%

(Updated at 7:11 a.m. ET/1111 GMT)

By Lisa Pauline Mattackal

Nov 1 (Reuters) -

U.S. stock futures rose on Friday, buoyed by strong Amazon ( AMZN )

results offsetting the previous session's tech selloff, with

investors awaiting nonfarm payrolls data for insights on the

Federal Reserve's key policy rate trajectory.

Amazon.com ( AMZN ) soared 6.8% in premarket trading, as

strong retail sales increased its profit above Wall Street

estimates.

That lifted market morale after a tech-driven slump in

Thursday's session, as cost warnings on AI-related

infrastructure from Meta Platforms ( META ) and Microsoft ( MSFT )

saw the Nasdaq tumble 2.7% on its worst day in

nearly two months.

Nonfarm payrolls data, due before markets open, is now in

focus. Economists polled by Reuters estimated that the economy

added 113,000 jobs in October. However, analysts said labor

strikes and hurricanes could skew the month's data.

Meanwhile, Apple ( AAPL ) dropped 1.7% despite beating

quarterly sales forecasts, as investors worried about a decline

in China sales.

While investors are largely certain the Fed will cut rates

by 25 basis points in November, the outlook for subsequent

months is less clear as economic data remains robust.

Treasury yields have risen to nearly four-month highs in

recent weeks, pressuring equities, as traders speculate that the

central bank will adopt a less dovish stance.

The Nov. 5 U.S. presidential election is also on investors'

minds, with many analysts predicting a close race and some

uncertainty over the final outcome. The Federal Reserve's

November meeting kicks off the following day.

Unsurprisingly, equity volatility has risen in recent days,

with the CBOE Volatility Index trading at a more than

three-week high.

"(The) US October Jobs Report and Election Date pose

significant risks to both sides of current rates outlook, we

think the Fed is more likely to change its forward guidance than

its rate decision next week in case of data (or) political

surprises," analysts at Danske Bank wrote.

Dow E-minis were up 139 points, or 0.33%, S&P

500 E-minis were up 20.25 points, or 0.35%, and Nasdaq

100 E-minis were up 82.75 points, or 0.41%.

All three major indexes were on track for weekly declines,

with the S&P 500 and the Nasdaq Composite set for

their worst week in eight.

Intel ( INTC ) jumped 5.3% after a better-than-expected

revenue forecast, lifting other chip stocks, with Nvidia ( NVDA )

rising 1.6%.

Shares of Boeing ( BA ) rose 2.6% after a union of striking

workers endorsed an improved contract offer that includes a 38%

pay rise, with members expected to vote on Monday.

Oil majors Exxon Mobil ( XOM ) and Chevron ( CVX ) rose 1.6%

and 2%, respectively, after both companies beat third-quarter

profit estimates on higher oil output.

Of the S&P 500 companies that have reported

third-quarter results, 77.2% have beaten analysts' expectations,

according to LSEG data as of Thursday, roughly in line with the

past four quarters' 79% average.

U.S. Manufacturing PMI data is also due later in the day.