Dow futures rise 45 pts as nonfarm payrolls loom large By Investing.com

By Peter Nurse

Investing.com — U.S. stocks are seen opening mixed Friday, with investors cautiously awaiting the December jobs report for indications of future monetary policy.

At 07:00 ET (12:00 GMT), the contract was up 45 points, or 0.1%, traded largely flat, while dropped 25 points, or 0.2%.

The three main indices closed lower Thursday after stronger than expected ADP’s data and lower raised fears that this would encourage the to keep interest rates higher for longer.

The blue-chip ended 339.7 points, or 1% lower, the broad-based lost 1.2%, and the tech-heavy ended 1.5% lower.

This puts the focus on Friday’s official , which is a broader reading than just private payrolls. The Fed will be looking at the numbers to judge whether the tight labor market is showing signs of softening. It already expects the , which is expected to remain at 3.7% Friday, to rise this year as economic conditions weaken.

Also due later in the session are the , which is expected to fall in December to 55 from 56.5 the prior month, and for November, seen offering the first negative reading since July.

In the corporate sector, Tesla (NASDAQ:) will be in the spotlight after the electric car manufacturer cut electric car prices in China for the second time in less than three months on Friday, stoking expectations for a price war for battery-powered vehicles in the world’s largest auto market.

Bed Bath & Beyond (NASDAQ:) stock slumped 12% premarket after the troubled retailer said late Thursday that it was running out of cash and was considering bankruptcy.

Oil prices edged lower, retreating Friday after Thursday’s gains on the back of the release of relatively bullish U.S. data for last week suggesting demand remained strong in this important market during the festive period.

By 07:00 ET, futures traded 0.1% lower at $73.62 a barrel, while the contract fell 0.2% to $78.56.

Both crude contracts remained on track for losses of around 8% this week on concerns a global recession at the start of 2023 will severely hit demand.

Details from Baker Hughes totaling the number of in operation rounds off the week.

Additionally, rose 0.1% to $1,842.20/oz, while traded 0.2% lower at 1.0500.