US stocks rallied on Thursday because they were oversold in the last week of October, Jud Pyle from PEAK6 Investments told CNBC Friday. Pyle considers the outlook for US stocks ahead of the open.

If Friday's US unemployment data shows a less-than-expected loss of 100,000 jobs, it could cause stocks to rise, Jud Pyle from PEAK6 Investments told CNBC Friday. Maxwell Clarke from IDEAglobal and Khuram Chaudhry from BofA Merrill Lynch Global Research joined the discussion.

"The economy has grown massively since the changes," Dominik Radziwiłł, undersecretary of state for the Polish Ministry of Finance, said Friday of Poland since the collapse of the Berlin Wall in 1989. "The Polish economy has shown very good resilience towards the financial crisis, the global crisis." He admitted the country still has problems, namely its fiscal deficit.

“This has become a stock picker’s market within the equity market,” Khuram Chaudhry from BofA Merrill Lynch Global Research said Friday, adding that this is dependent on the earnings season and companies’ outlooks. “But the overall guidance in terms of how solid is this recovery” comes from the economic macro data, he said.

“This has become a stock picker’s market within the equity market,” Khuram Chaudhry from BofA Merrill Lynch Global Research said Friday, adding that this is dependent on the earnings season and companies’ outlooks. “But the overall guidance in terms of how solid is this recovery” comes from the economic macro data, he said.

Tokyo stocks were mixed Friday with investors encouraged by Wall Street’s overnight gains but also cautious ahead of the upcoming US jobs report. The Nikkei 225 Average closed 0.7% higher. The Nikkei’s Makiko Utsuda has the details.

“The economic slowdown has prompted more protectionist noise, especially from the West, … against current account surplus countries such as China,” Tai Hui from Standard Chartered Bank said. The US government’s preliminary duty on Chinese steel products announced Thursday is part of a “wave of protectionist or anti-trade measures that could come in the months ahead,” he added.

“We’re going to see this rise in (UK) producer prices feeding through to higher consumer prices,” Sarah Hewin from Standard Chartered Bank told CNBC Friday. The long-term forecast for inflation, shown in next week’s inflation report, “will be below the 2% target over the medium term,” she added.

“Everyone is kind of anxious” ahead of the U.S. October jobs data Friday, Tze Ming Tey from Saxo Capital Markets told CNBC. If we “see a smaller decline in job losses … we could be nearing the peak as far as US unemployment goes,” he said. Paul Day from MIG Investments joined the discussion.

Deutsche Telekom posted a third-quarter core profit above expectations and confirmed its outlook Thursday. "It was, in fact, the strongest quarter we've ever had," CEO Rene Obermann said, adding that the earnings success was due to the group's "investing in future technologies (like) broadband (and) mobile internet."

"The euro zone is no worse off than the United States or the United Kingdom," Stephen Gallo from Schneider Foreign Exchange said Thursday. The euro is only strong because the dollar is weak, he said, adding that the "situation playing in the dollar and the pound is so much worse and that's to the ECB's credibility because they did not follow the United States and United Kingdom down the same road."

Toyota's results blew past expectations Thursday. The Japanese automaker posted a surprise quarterly profit and halved its annual loss forecast. "Toyota is still making a loss. It's still going to face a very difficult future ahead," Graeme Maxton from The Insight Bureau said. "This doesn't mean that the auto sector has turned around."