US Futures Rise After Softer Economic Data

U.S. stock futures advanced Friday, then extended gains after September payroll growth came in far below expectations and unemployment rose to 4.2%. The weak labor-market report, alongside easing Treasury yields and softer oil prices, led investors to scale back expectations for further Federal Reserve rate increases. Before the report, markets had already been higher as investors anticipated slower hiring and weighed recent declines in bond yields; chipmakers and major technology stocks helped lead premarket gains. Despite Friday’s rebound, the S&P 500, Dow and Nasdaq remained on track to finish the week lower.