Here are 10 things you should know for Friday, Dec. 6:
1.-- U.S. stock futures were rising Friday ahead of the U.S. jobs report for November.
Nonfarm payrolls are expected to have increased by 180,000 last month, according to a Reuters survey of economists, down from a gain of 204,000 jobs in October.
European shares were trading higher. Asian stocks ended Friday's session mixed. Japan's Nikkei 225 index rose 0.8%.
2.-- The economic calendar in the U.S. Friday includes the nonfarm payrolls report for November at 8:30 a.m. EST, personal income and personal spending for October at 8:30 a.m., and the University of Michigan Sentiment Index for December at 9:55 a.m.
3.-- U.S. stocks on Thursday fell for a fifth consecutive session on Thursday as labor market improvement and better economic growth raised the possibility of the Federal Reserve cutting back on economic stimulus in December.
The S&P 500 fell 0.43% to 1,785.03 while the Dow Jones Industrial Average declined 0.43% to 15,821.51. The Nasdaq dipped 0.12% to 4,033.16.
The country's first black president died at his home in the Johannesburg suburb of Houghton. Family members had been gathering at the home in recent days. Mandela had been receiving treatment for a lung infection.After spending 27 years in prison during the country's apartheid era, Mandela was released in 1990 and then elected president following the country's first multiracial and democratic election. Mandela was awarded the Nobel Peace Prize in 1993.
President Barack Obama paid tribute to Mandela during a White House press conference shortly after the news broke. "He achieved more than could be expected of any man," Obama said. "We have lost one of the most influential, courageous and profoundly good human beings that any of us will share time with on this earth."
5.-- J.C. Penney (JCP - Get Report) said Thursday the Securities and Exchange Commission is looking into its liquidity, debt and other financial matters. The struggling retailer disclosed in a regulatory filing that it received a letter from the SEC in October requesting information on its liquidity, cash position, debt and equity financing, as well as its offering of common stock announced in September. The company said it's cooperating with the SEC and providing the requested information. A representative for the retailer declined further comment for The Associated Press. Shares of J.C. Penney fell almost 3% in after-hours trading. 6.-- The Los Angeles city attorney sued Wells Fargo (WFC - Get Report)WFC and Citigroup (C)C on Thursday, alleging the banking giants engaged in mortgage discrimination that led to a wave of foreclosures in minority communities during the housing crash. In the twin lawsuits, filed in federal court, the city attorney alleges a "continuing pattern of discriminatory mortgage lending practices" in Los Angeles that violate the federal Fair Housing Act.
Wells Fargo and Citigroup both said the suits were meritless. 7. -- Chevron's (CVX)CVX $6.4 billion gas project in China is facing further delays due to disagreements with partner PetroChina over how to develop the technically tricky fields, three industry sources told Reuters. The Chuandongbei project, Chevron's largest investment in China, now isn't expected to deliver first gas until the second half of 2014, nearly seven years after the companies securec a 30-year deal to produce 7.6 billion cubic meters of gas a year, Reuters reported. 8.-- Spotify, the Sweden-based music company with 6 million paying subscribers and 20 million active users worldwide, is planning a free, ad-supported version of its streaming-music service on mobile devices, The Wall Street Journal reported, citing people familiar with the matter. Spotify previously made mobile users pay a monthly fee. Spotify has reached licensing deals with all three of the global music companies to use their recordings on the new service, the people told the Journal. 9.-- American Eagle Outfitters (AEO) is expected by analysts to report third-quarter earnings of 19 cents a share on revenue of $844.8 million.
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