Here are five things you must know for Friday, Sept. 6:
1. -- Stock Futures Point Higher Ahead of Jobs Report, Powell Speech
U.S. stock futures rose modestly Friday ahead of a reading on U.S. jobs growth and a speech from Federal Reserve Chairman Jerome Powell in Zurich that will be closely watched by Wall Street for indications of the central bank's near-term rate path.
The nonfarm payrolls report for August will be released at 8:30 a.m. ET, with economists surveyed by FactSet expecting the U.S. to have added 160,000 jobs last month vs. gains of 164,000 in July. A strong private payrolls report from Automatic Data Processing on Thursday suggested that the official U.S. government report on August jobs growth might surprise on the upside.
The unemployment rate is expected to remain at 3.7%. Average hourly earnings also are expected to hold steady, with an increase in August of 0.3%.
The jobs report - as well as the overhang from the bitter trade dispute between the U.S. and China and its impact on global growth - likely will be addressed during Powell's "Economic Outlook and Monetary Policy" speech at 12:30 p.m. in Zurich, where he is expected to take questions from both the audience and Swiss National Bank President Thomas Jordan.
Contracts tied to the Dow Jones Industrial Average rose 69 points, futures for the S&P 500 gained 6.75 points, and Nasdaq futures were up 11.25 points.
Stocks finished sharply higher Thursday after officials from Washington and Beijing said they would resume trade talks in October.
The Dow soared 372 points, or 1.41%, to 26,728, the S&P 500 climbed 1.3%, and the Nasdaq advanced 1.75%.
2. -- Lululemon Rises on Earnings Beat, Guidance Boost
Lululemon Athletica (LULU - Get Report) rose 4.03% in premarket trading Friday to $196 after the athletic-apparel company posted second-quarter earnings and revenue above Wall Street expectations and raised its full-year guidance.
Earnings in the quarter were 96 cents a share, up from 71 cents a year earlier and ahead of analysts' forecasts of 89 cents a share.
Revenue rose 22% from a year earlier to $883.4 million and beat estimates of $846 million. Same-store sales in the quarter jumped 15%, beating estimates of 12.2%.
Lululemon said it expects fiscal-year earnings of between $4.63 and $4.70 a share on revenue of $3.8 billion to $3.84 billion. The company previously expected earnings of $4.51 to $4.58 a share on revenue of $3.73 billion to $3.77 billion.
Analysts had been calling for fiscal-year earnings of $4.64 a share on revenue of $3.81 billion.
"On the bottoms business, as you know, it's a core category for us in both women's and men's and in Q2 we saw both of those continue to perform very strong with double-digit comp performance. In fact, men's outperform women's as we continued to see success in our men's initiative as one of the key Power of Three growth initiatives," CEO Calvin McDonald told investors on a conference call. "So, a very good healthy balanced bottoms business across both pant, shorts men's and women's and we continue to have innovative plans that we'll be launching to continue to drive that momentum forward."
3. -- Alibaba Buys NetEase's E-Commerce Business, Kaola, for $2 Billion
Alibaba, the giant Chinese online retailer, also said it would invest $700 million into NetEase's streaming music business, NetEase Cloud Music. NetEase will remain the controlling shareholder of NetEase Cloud Music once the deal closes.
Kaola will continue to operate independently, but the general manager of Alibaba's Tmall business will lead the company as CEO.
"With Kaola, we will further elevate import service and experience for Chinese consumers through synergies across the Alibaba ecosystem," said Daniel Zhang, Alibaba CEO, in a statement. "Alibaba also looks forward to becoming a partner in the future development of NetEase Cloud Music and exploring innovative collaboration in the digital entertainment space."
4. -- Zoom Video Falls Despite Lifting Profit Guidance
Zoom Video (ZM) declined in premarket trading Friday even after adjusted earnings in the second quarter of 8 cents a share easily topped forecasts of 1 cent and the video communications company boosted its fiscal-year profit forecast.
Zoom Video said revenue in the quarter was $145.8 million vs. analysts' estimates of $130.3 million.
The company said at the end of the second quarter it counted 66,300 customers with more than 10 employees, a 78% increase from a year earlier, with 466 customers contributing more than $100,000 in trailing 12 months revenue, a 104% increase.
Zoom also issued third-quarter revenue guidance of between $155 million and $156 million and said it expects adjusted earnings of 3 cents a share. Analysts are expecting the company to report revenue of $140 million and a loss of 1 cent a share.
For the fiscal year, Zoom Video expects adjusted earnings of 18 cents to 19 cents a share, up from its previous guidance of 2 cents to 3 cents a share.
The stock fell 2.2% to $90.65 in premarket trading. Zoom went public in April at $36.
5. -- Green Bay Packers Kick Off NFL's 100th Season With a Win
The Green Bay Packers defeated the Chicago Bears on Thursday night, 10-3, as the NFL kicked off its 100th season.
Packers quarterback Aaron Rodgers hit Jimmy Graham for the game's only touchdown in the second quarter.
The Packers and Bears rivalry is the longest in the NFL. Green Bay has won 16 of the last 19 regular-season meetings between the teams.
For more football, and to get Jim Cramer's picks for Week 1 of the NFL season, head to Bull Market Fantasy With Jim Cramer.