Wall Street was looking at another bullish session Friday, Dec. 8, after the Labor Department said the U.S. added 228,000 jobs to payrolls in November, higher than expected, and the unemployment rate remained steady last month at 4.1%.
Wall Street futures extended gains in premarket trading, following a solid advance Thursday that was again led by the large-cap tech stocks, with contracts tied to the Dow Jones Industrial Average rising 45 points, or 0.19%, and those linked to the broader S&P 500 up 5.75 points, or 0.22%. Nasdaq futures rose 0.4%.
The dollar pared gains after the release of the jobs report but has been rising for most of the week in anticipation of not only faster rate projections from the Federal Reserve but also the impact of any fiscal stimulus that would come from an agreement on tax reform between Republican lawmakers in the House and Senate.
U.S. employers added 228,000 jobs last month, higher than FactSet estimates of 190,000, as post-hurricane hiring accelerated and retailers prepared for a record holiday shopping season.
Average hourly wages gained 0.2% month to month to $26.55. Economists expected an increase of 0.3% in November from October. The figures could have a big impact on interest rate projections for 2018 from the Fed, which holds its final policy meeting of the year next week in Washington.
In Europe, benchmarks around the region traded solidly in the green, following confirmation of an agreement between London, Dublin and Brussels that will allow Brexit talks to move past the "divorce bill" stage and onto critical areas such as trade.
TheStreet's founder, Jim Cramer, asked Boeing Co. (BA) Chairman and CEO Dennis Muilenburg about our chances of going to Mars during our lifetime.
Muilenburg said that Boeing's next-generation rocket, which towers 36 stories tall, was being assembled and will see test flights in 2019. The first person that lands on Mars will get there on a Boeing rocket, he said. Muilenburg talked on Cramer's "Mad Money" show on CNBC on Thursday.
Alexion Pharmaceuticals Inc. (ALXN) shares surged in premarket trading Friday amid reports that activist investor Elliott Management was pressing for major changes on the company's board if it doesn't outline plans to boost growth.
More of What's Trending on TheStreet: