U.S. stock index futures jumped on Friday on the back of U.S. jobs growth that easily topped expectations.
Around 8:30 a.m. ET, Dow Jones Industrial Average futures were up 152 points, indicating a gain of more than 150 points at the open. S&P 500 and Nasdaq 100 futures also rose.
The U.S. economy added 266,000 jobs in November, according to figures released by the Labor Department. Economists polled by Dow Jones expected a gain of 187,000.
Treasury yields climbed to their session highs after the data was released. The benchmark 10-year yield traded at 1.86% while the 2-year rate was at 1.63%.
Other data slated for release Friday includes consumer sentiment for December, wholesale trade figures for October and the latest reading of consumer credit will all follow slightly later in the session.
Market focus is largely attuned to global trade developments, following an upbeat tone from President Donald Trump.
On Thursday, Trump said the world’s two largest economies were inching closer to a trade deal. His comments come as investors continue to closely monitor the prospect of a so-called phase one trade agreement, with less than 10 days to go before Washington is poised to impose even more tariffs on Chinese goods. Tariffs on another $156 billion in Chinese goods are set to go into effect on Dec. 15.
China also extended an olive branch to the U.S. on Friday by waving import tariffs on some American pork and soybeans shipments. Both countries have been engaged in a trade war for nearly two years, denting investor and business sentiment in that time.