Stocks Set for Record Open Ahead of Labor Market Report
US stocks were set to extend their meteoric rise to record levels on Friday, buoyed by bullish economic data from Europe and ahead of a key labor market report in the US that should indicate steady job gains with minimal inflationary pressures from higher wages.
The economy is expected to have created 191,000 new jobs last month, keeping the jobless rate at a 15-year low. Average hourly earnings are forecasted to increase by 0.3%, while private payrolls should be up 185,000.
Also at 8:30am ET, factory orders is expected to surge 1.1% in November following a decline of 0.1% in October, and the trade deficit is likely to widen to $50.0 billion from $48.7 billion previously.
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