January non-farm payrolls in focus
U.S. stock futures were climbing higher early Friday, implying the market would bounce back at the opening bell following a massive sell-off in the previous session, which was partly triggered by disappointing earnings from Facebook parent Meta Platforms (NASDAQ: FB).
Today, traders will be keenly watching as the Labor Department releases its monthly jobs report at 8:30 a.m. ET.
Expectations are for U.S. employers to have added just 150,000 jobs in January as the economy continued to grapple with the omicron Covid variant. That compares to the 199,000 jobs that were added in December.
The rate of unemployment is expected to remain unchanged at 3.9%, which would below the Federal Reserves’ longer-term dot for unemployment of 4%.
As of 5:20 a.m. ET, futures tied to the blue-chip Dow ticked up 12 points, or 0.03% to 34,983. S&P 500 futures gained 17.5 points, or 0.39% to 4,486.5 while the tech-heavy Nasdaq 100 futures edged up 139 points, or 0.96% to 14,631.25.
Amazon jumps as revenue swells to a record $137.4 billion
Shares in Amazon (NASDAQ: AMZN) are popping after the company released a blowout fourth-quarter earnings report after the market closed on Thursday.
The company posted adjusted earnings of $5.80 per share during the holiday quarter, exceeding analysts’ estimates of $3.67. Revenue climbed to a record $137.4 billion, slightly in line with estimates of $137.6 billion.
Amazon attributed its solid earnings to its stake in electric-automaker Rivian Automotive (NASDAQ: RIVN), which made its Wall Street debut in the quarter.
The e-commerce behemoth also announced that it will hike the annual price of its Prime subscription service from $119 to $139.
Amazon stock was marked $336.09, or 12.10% to $3,113.00 per share in premarket trade.
Snap shares skyrocket on first-ever quarterly profit
Meanwhile, shares of Snap (NYSE: SNAP) moved sharply higher in the premarket session after the company announced its first-ever quarterly profit on Thursday, blowing past analyst estimates.
Snap, the parent of photo messaging app Snapchat, reported fourth-quarter adjusted earnings of 22 cents per share, surpassing the 10 cents that analysts had forecast.
Revenue increased to $1.3 billion, also ahead of estimates of $1.2 billion.
The company said its global daily active daily users (DAUs) stood at 319 million, compared with expectations of 316.9 million.
Snap stock was up $11.55, or 47.14% to $36.05 per share as of writing.
