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Wall Street Targets To Open Slightly Positive

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Labor Department's monthly jobs report might get special attention on Friday.

The latest view that the new Omicron Covid-19 variant might be milder than previous strains and existing vaccines will be effective against the latest strain is adding hope across the world.

Asian shares are trading mixed, while European shares are trading higher.

Early signs from the U.S. Futures Index suggest that Wall Street might open slightly positive.

As of 7.20 am ET, the Dow futures were gaining 11.00 points, the S&P 500 futures were adding 0.25 points and the Nasdaq 100 futures were progressing 6.75 points.

The U.S. major averages all finished Thursday firmly positive. The Dow spiked 617.75 points or 1.8 percent to 34,639.79 and the S&P 500 jumped 64.06 points or 1.4 percent to 4,577.10. The tech-heavy Nasdaq showed a lack of direction early in the session but closed up 127.27 points or 0.8 percent at 15,381.32.

On the economic front, the labor Department's Employment Situation for November will be issued at 8.30 am ET. The nonfarm payroll for the month is expected to be 545,000, while it was up 531,000 in the prior month. Unemployment rate consensus for the month is 4.5 percent, while it was up 4.6 percent in the prior month. Private payroll is expected to be 525,000, while it was up 604,000.

PMI Composite Final will be published at 9.45 am ET.

The Commerce Department's Factory Orders for October will be revealed at 10.00 am ET. The consensus is for an increase of 0.5 percent, while it was up 0.2 percent in the prior month.

ISM Services Index for November will be published at 10.00 am ET. The consensus is for an increase of 65.0, while it was up 66.7 in the prior month.

The Baker Hughes Rig Count for the week is scheduled at 1.00 pm ET. In the prior week, the North America Rig Count was 740 and the U.S. Rig Count was 569.

Asian stocks reversed early losses to end broadly higher on Friday.

Chinese shares advanced on the day. The benchmark Shanghai Composite index gained 33.60 points, or 0.94 percent, to finish at 3,607.43 while Hong Kong's Hang Seng index dropped 22.24 points to end at 23,766.69.

Japanese shares rallied. The Nikkei average jumped 276.20 points, or 1.0 percent, to 28,029.57 while the broader Topix index closed 1.63 percent higher at 1,957.86.

Australian markets eked out modest gains, with banks and energy stocks pacing the gainers. The benchmark S&P/ASX 200 index inched up 16 points, or 0.22 percent, to 7,241.20 while the broader All Ordinaries index ended up 7.50 points at 7,543.60.

European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 4.99 points or 0.07 percent. The German DAX is adding 34.42 points or 0.23 percent, the U.K. FTSE 100 Index is gaining 28.66 points or 0.40 percent.

The Swiss Market Index is adding 66.35 points or 0.54 percent.

The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.069 percent.

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