Updated from 5:56 a.m. EST

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Here are five things you must know for Friday, Dec. 2:

1. -- U.S. stock futures suggested Wall Street would open in the red on Friday and oil prices moved lower ahead of the U.S. payrolls report for November. 

The economic calendar in the U.S. on Friday includes the nonfarm payrolls report for November at 8:30 a.m. EST. Economists surveyed by FactSet expect the U.S. to have added 174,000 jobs last month with the unemployment rate holding steady at 4.9%.

The U.S. jobs report, one of the most closely watched pieces of data each month, is under an even more intense spotlight as investors look for confirmation the Federal Reserve will pull the trigger on interest rates at their meeting in two weeks.

Other data Friday include the Baker-Hughes Rig Count for the week ended Friday, which will be released at 1 p.m.

Federal Reserve Gov. Lael Brainard will deliver welcoming remarks at the "Financial Innovation: Online Lending to Households and Small Businesses" conference at the Federal Reserve Board in Washington at 8:45 a.m., while Fed Gov. Daniel Tarullo is scheduled to deliver the keynote speech at the Office of Financial Research's Financial Stability Conference in Washington at 12:30 p.m.

West Texas Intermediate crude oil fell 1.1% to $50.49 a barrel. Crude closed 3.3% higher on Friday at $51.06 a barrel, its best level since Oct. 19.

European stocks traded weaker Friday after losses in Asia as investors prepared for the employment data from the U.S. and a crucial constitutional referendum this weekend in Italy.

The Dow Jones Industrial Average scored a new record close on Thursday as another rally in the banking and energy sectors offset weakness in tech.

Big Lots (BIG)  posted third-quarter adjusted earnings of 4 cents a share, topping Wall Street estimates, and the discount retailer raised its earnings guidance for the full year.

2. -- Shares of Starbucks (SBUX)  fell 2.6% in premarket trading on Friday after CEO Howard Schultz announced Thursday he would be stepping down in April 2017.

down effective April 3, 2017, the global coffee powerhouse said Thursday, just days ahead of its annual meeting with investors.

The visionary leader of Starbucks, who was CEO from 1987 to 2000 and then again from 2008 until now, will assume the role of executive chairman of Starbucks, shifting his focus to innovation, design and development of the chain's high-end roastery concept. Taking over as CEO will be current Starbucks President and Chief Operating Officer Kevin Johnson.

Starbucks is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SBUX? Learn more now. 

3. -- Aixtron (AIXG) shares fell sharply Friday on reports that President Obama would reject a proposed takeover of the German chipmaker by a China-based investment fund.

Obama was asked to decide the fate of a controversial €670 million ($714 million) takeover of Aixtron by China's Fujian Grand Chip Investment Fund after the powerful Committee on Foreign Investment in the United States recommended the deal be withdrawn on national security grounds linked to its technology hub in Sunnyvale, Calif.

Aixtron said in mid-November that neither it nor Fujian Grand were prepared to follow the recommendation, which meant the matter had been referred to the president for a decision by Friday, Dec. 2.

China appealed to Washington to avoid injecting politics into the proposed takeover of Aixtron, the Associated Press reported.

A foreign ministry spokesman, Geng Shuang, said Friday the proposed acquisition of Aixtron by Fujian Grand Chip is a "normal business activity." He appealed to other governments not to "make any political intervention."

4. -- Wells Fargo (WFC) will split the jobs of chairman and CEO and will make other major changes to the composition of its board in an effort to make the bank more accountable following a scandal over its sales practices.

The bank said Thursday it was amending its corporate bylaws to require that separate people fill the job of chairman and the job of CEO. The chairman and vice chairman will have to be independent directors, the bank said.

Wells' previous CEO, John Stumpf, held both the CEO and chairman jobs before he abruptly retired in mid-October. Stumpf was replaced by Tim Sloan, and Stephen Sanger became Wells' independent chairman.

Wells Fargo is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells WFC? Learn more now.

5. -- A federal jury in Dallas ordered Johnson & Johnson (JNJ) and its DePuy Orthopaedics unit to pay more than $1 billion to six people who suffered serious medical complications from defectively designed Pinnacle hip implants.

J&J, which faces more than 8,000 lawsuits over the hip implants, according to Reuters, said in a statement it would immediately appeal the verdict and was committed to defending itself and DePuy from further litigation over the Pinnacle devices.

J&J shares fell slightly in premarket trading on Friday.

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