US Stock Futures Climb as Oil Prices Ease and Jobs Report Looms

US stock futures showed gains on Friday morning, buoyed by a decline in oil prices and growing anticipation ahead of the monthly US jobs report. Investors are closely watching this report for signals about the economy's direction and the Federal Reserve's potential policy moves.

The Dow Jones futures rose by 259 points, or 0.51%, while the S&P 500 futures gained 37 points, about 0.48%. Nasdaq 100 futures outperformed with a 0.73% increase, adding 223.25 points. The softer oil prices contributed to positive market sentiment, as the US urged European allies to release diesel reserves and accelerate supply commitments to ease fuel cost pressures.

Meanwhile, the bond market steadied, with the yield on the 10-year US Treasury settling around 5.22%, down from Thursday’s peak of 5.34%, the highest level since 2002. The recent rise in yields reflected inflation concerns driven by global energy shocks linked to tensions in the Middle East and growing US government debt.

In other global developments, China’s antitrust regulator requested Anglo American to guarantee a steady supply of copper concentrate as a condition for approving its planned $54 billion merger with Canada’s Teck Resources. This demand underscores China’s challenges in securing feedstock for its extensive copper smelting industry, which processes roughly 60% of the world’s copper cathodes. Analysts highlight that Chinese refined copper output is expected to grow at its slowest pace since 2000 due to feedstock shortages and declining profitability from lower byproduct sulfuric acid prices.

On the European front, French President Emmanuel Macron is set to lead a G7 video conference on energy markets. The meeting aims to explore coordinated actions concerning crude oil and refined product supplies. Macron has already held talks with US President Donald Trump and Canadian Prime Minister Mark Carney regarding the issue. France has reportedly pushed its EU partners to release additional diesel stocks in response to US pressure to help stabilize soaring fuel prices.

Financial markets are also adjusting expectations around central bank policies. Standard Chartered revised its forecast, now anticipating a 25 basis point increase in the European Central Bank's deposit rate to 2.75% in December. This shift follows higher-than-expected inflation figures in the eurozone and data showing stronger economic resilience. Several major Wall Street banks have aligned with the view that the ECB will continue tightening monetary policy later this year.

In corporate news, Nike shares dropped more than 10% after the company forecasted a significant decline in annual revenue, mainly due to weakening sales in China. The sportswear giant also announced job reductions and a restructuring of its global business divisions as part of its response to market challenges.

Meanwhile, the US military is deploying additional forces to the Middle East, including a third aircraft carrier group, following President Trump’s recent statements about Iran. These geopolitical developments contribute to the complex backdrop influencing energy prices and investor sentiment worldwide.

Friday’s US jobs report will be a focal point for markets, as it may offer key insights into economic strength and help determine the Federal Reserve’s next steps on interest rates. After the Fed’s rate hike in September—the first in three years—investors are eager to see if labor market data will support further tightening or suggest a pause.

Credit-scoring company Fair Isaac also experienced a decline, falling 6.8%, after reports emerged that the US Federal Housing Finance Agency plans to relax mortgage credit data requirements for Fannie Mae and Freddie Mac. This regulatory change could have implications for the mortgage market and credit availability.

Overall, the combination of easing oil prices, geopolitical tensions, central bank policy shifts, and upcoming economic data is keeping markets alert as investors weigh risks and opportunities in a dynamic global landscape.