US stock futures turn lower after payrolls report

Stock-index futures turned mostly lower on Friday after the government reported a payrolls gain of 214,000 in October.

The report from the Labor Department had the unemployment rate falling to 5.8 percent. Economists had projected an increase of 231,0000 jobs and for the jobless rate to hold at 5.9 percent.

"We pretty much got an inline number, the headline was a little lower than consensus, but you'd have to go back quite some time to see a track record like that, or above 200,000" for such an extended period, said Art Hogan, chief market strategist at Wunderlich Securities.

Upside surprise in US jobs is unlikely: Pro
Upside surprise in US jobs is unlikely: Pro   

After the employment report, the Federal Reserve's Janet Yellen will speak in Paris at the Banque de France conference.

Other data out during the day are consumer credit for September at 3 p.m.

The biggest earnings report will come after the closing bell, when Berkshire Hathaway publishes its third quarter numbers. Other companies posting numbers include Humana and Brookfield Asset Management.

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In Europe, shares of Allianz topped the German DAX index after the insurer raised its dividend and unveiled a forecast-beating jump in net profit in the third quarter. This helped to calm fears after outflows from its Pimco unit, following the shock departure of Bill Gross.

U.S. stocks could also get support from reassurance by European Central Bank President Mario Draghi on Thursday. At his regular press conference, he soothed fears of dissent at the Bank and hinted at the possibility of further aggressive stimulus measures.

"Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council is unanimous in its commitment to using additional unconventional instruments within its mandate," Draghi said.