5 Things to Know Before the Stock Market Opens

U.S. stock futures are rising after major stock indexes closed lower Thursday on weaker-than-expected tech earnings; the monthly jobs report is expected to show that hiring slowed in October; shares of Amazon (AMZN) are surging in premarket trading after it reported strong earnings on cloud and advertising revenue growth; Intel (INTC) stock is rising after its sales topped estimates; and Boeing (BA) reaches a tentative deal with its machinists union to end its seven-week strike. Here's what investors need to know today.

1. US Stock Futures Rise After Tech Selloff

U.S. stock futures are rising Friday after a slew of disappointing tech earnings sent markets lower in the prior session. After falling by 2.8% yesterday, Nasdaq futures are up by 0.5%, the S&P 500 and the Dow Jones Industrial Average are edging higher after falling by 1.9% and 0.9%, respectively. The improvement comes despite a disappointing earnings report from Apple (AAPL), whose shares are moving lower in premarket trading. Investors today will not only be watching the monthly jobs report, but also oil prices, which are rising by 2% after reports that Iran is preparing to strike back at Israel.

2. October Jobs Report Expected to Show Hiring Slowdown

Market watchers will be focused on today's U.S. jobs report, due at 8:30 a.m. ET, which is expected to show that employers added fewer jobs in October due to disruptions like hurricanes Helene and Milton and the Boeing strike. Economists surveyed by The Wall Street Journal and Dow Jones Newswires forecast that employers will have added 110,000 jobs in October, a sharp slowdown from 254,000 in September, while the unemployment rate is expected to remain at 4.1%. While the report is the last voters will see before Election Day, it could also help influence the Federal Reserve as it is set to consider again lowering interest rates at its meeting next week.

3. Amazon Stock Surges on Cloud, Advertising Growth

Shares of Amazon (AMZN) are 7% higher in premarket trading after the online retailer beat earnings expectations on growth in its cloud and advertising business. The company reported net sales of $158.9 billion, up 11% from the year-ago period and above the $157.3 billion estimate from analysts surveyed by Visible Alpha, while its earnings per share (EPS) of $1.43 grew more than 50% to beat estimates. The tech giant also reported a 19% revenue jump for both its advertising unit and cloud computing division Amazon Web Services.

4. Intel Stock Rises After Revenue Tops Expectations

Troubled chipmaker Intel (INTC) stock is surging about 6% in premarket trading after the company reported better-than-expected revenue growth. While Intel’s third-quarter revenue fell 6% year-over-year to $13.3 billion, it was above the $13.03 billion consensus estimate, helped by growth in its data center and artificial intelligence (AI) segment. While the company posted a wider-than-expected loss of $16.6 billion thanks to billions of dollars in restructuring and impairment charges, its fourth-quarter revenue forecast came in slightly above estimates.

5. Boeing Reaches Tentative Deal With Union as Strike Drags On

After workers rejected the previous offer, Boeing (BA) and its machinists union have reached a tentative contract agreement that could potentially end the strike that began on Sept. 13. Union members next Monday will vote on the new deal, which includes a 38% general wage increase over four years, up from 35% in the previous offer. The development comes after Boeing raised billions of dollars to stem a cash drain related to the strike, while also announcing plans to lay off about 10% of its workforce, or 17,000 workers. Shares of Boeing are up 2% in premarket trading. 

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