NEW YORK (TheStreet) -- Stock futures were climbing higher on Friday on the news the U.S. economy added 257,000 jobs in January, higher than estimates.
S&P 500 futures added 0.12%, Dow Jones Industrial Average futures gained 0.15%, and Nasdaq futures climbed 0.08%.
Economists had expected the Bureau of Labor Statistics to report an increase of 230,000 jobs over the month. The unemployment rate nudged 100 basis points higher to 5.7%. Average hourly wages increased 0.5%, their biggest monthly gain since November 2008, and above estimates of a 0.3% increase. Average hourly wages had shown worrying signs of stagnating after an unexpected 0.2% drop in December.
On Thursday, stock markets surged more than 1% as a rebound in crude prices sparked a rally among equities. Crude was extending gains on Friday with West Texas Intermediate up 2.7% to $51.85 a barrel. Prices had rallied on Thursday after the European Union increased forecasts for growth to 1.7% this year from a previous estimate of 1.5%. Oil has been floundering in the face of global oversupply and weakening demand in key regions including China and the eurozone.
European markets were trading lower after Thursday's meeting between Greek Finance Minister Yanis Varoufakis and German Finance Minister Wolfgang Schauble showed no signs of progress toward a debt deal. Greece's fiscal future has looked unstable since anti-austerity party Syriza was elected last week, triggering fears the new government could compromise the country's bailout package with the International Monetary Fund and European Central Bank.
France's CAC 40 dropped 0.33%, Germany's DAX was down 0.67%, and London's FTSE 100 fell 0.26%. Athens Stock Exchange was down 0.8%.
Harris (HRS) announced it had agreed to purchase aerospace company Exelis (XLS) in a cash-and-stock deal worth $4.75 billion. Harris shares were up 5.8% and Exelis shares exploded 35% in premarket trading.
GoPro (GPRO) tumbled 12% after worrying investors with weaker-than-expected guidance. The action camera maker said it expects first-quarter guidance no higher than 17 cents a share. Analysts' consensus at the midpoint was 17 cents a share. The company said gross margins would likely drop to 44% from 48%.
LinkedIn (LNKD) soared more than 10% in premarket trading after beating quarterly earnings estimates and reporting a 44% jump in sales. On the beat, Credit Suisse, Evercore and Bank of America each lifted their price targets.
Twitter (TWTR) jumped 10.5% after reporting ad revenue up nearly 100% to $432 million, on top of a 109% surge in the previous quarter. Total revenue climbed 97%, while earnings of 12 cents a share were more than double analysts' estimates.
Pandora (P) plummeted nearly 20% premarket after missing sales and earnings estimates in its fourth quarter and guiding for below-consensus sales in its current quarter. Despite this, total listener hours were up 15% in the quarter, while active listeners jumped 7% to 81.5 million.
--Written by Keris Alison Lahiff in New York.