FOX Business’ Jackie DeAngelis breaks down the record day for the stock market.
U.S. equity futures are pulling back on Friday ahead of the January jobs report, following four days of gains.
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The major futures indexes are indicating a decline of 0.4 percent when trading begins.
The Labor Department’s January employment report is due Friday morning.
The U.S. economy likely added 160 thousand new nonfarm jobs last month according to economists surveyed by Refinitiv, up from December’s weaker-than-expected tally of 145 thousand.
The unemployment rate is expected to hold steady at 3.5 percent, the lowest in 50 years.
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Global stock markets retreated Friday as France and Germany reported weak factory data and the death toll from a virus outbreak in China rose further.
Germany reported new manufacturing orders fell 2.1 percent in December and industrial production dropped 3.5 percent from a year earlier, while France reported factory output fell 2.8 percent, adding to concerns over slowing growth in Europe.
Germany’s DAX lost 0.5 percent, the CAC 40 in Paris was lower by 0.3 percent and Britain’s FTSE gave up 0.7 percent.
Hong Kong’s Hang Seng index fell 0.3 percent on Friday, while China’s Shanghai Composite gained 0.3 percent and Tokyo’s Nikkei lost 0.2 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 29379.77 | +88.92 | +0.30% |
| SP500 | S&P 500 | 3345.78 | +11.09 | +0.33% |
| I:COMP | NASDAQ COMPOSITE INDEX | 9572.154203 | +63.47 | +0.67% |
Markets got a boost Thursday after Beijing said it will cut duties on $75 billion of U.S. goods as part of a trade truce with Washington.
Wall Street closed higher for a fourth day, propelled by gains for technology stocks and strong corporate earnings reports.
On Friday, there were 31,400 people confirmed infected by the virus worldwide. China confirmed 31,161 cases and 636 deaths as of Friday.
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More than 310 cases have been confirmed outside mainland China, including two deaths in Hong Kong and the Philippines.
The Asssociated Press contributed to this article.
