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US futures trade higher after jobs report miss

U.S. stock index futures pointed to a higher open on Friday as traders digested a key employment report that missed expectations.

The U.S. economy added 156,000 jobs last month, the Labor Department said. U.S. nonfarm payrolls was expected to show that 176,000 jobs were added in September, compared with the 151,000 increase in jobs a month earlier.

U.S. futures traded slightly lower ahead of the report's release.

The jobs report is a key indicator on labor market conditions, which is part of the Federal Reserve's so-called "dual-mandate" in determining monetary policy.

Friday will also see several Fed policymakers speak. They include Cleveland Fed President Loretta Mester, who is due on CNBC's "Squawk Box" soon after the jobs report is released and is also scheduled to give separate remarks about Fed communications at 12:45 p.m. ET.

Fed Vice Chair Stanley Fischer will speak at 10:30 a.m. ET on the economy and financial regulation, while Kansas City Fed President Esther George is due to talk about the U.S. economic outlook at 3:00 p.m. ET.


Spencer Platt | Getty Images

Elsewhere on the data front, wholesale trade is due at 10:00 a.m. ET, with consumer credit set to come out at 3:00 p.m. ET.

In Europe, the pan-European Stoxx-600 index was 0.7 percent lower on Friday. Sterling plunged to its lowest level in three decades overnight, dropping 6 percent in just two minutes before recovering to trade about 2 percent lower. In Asia, Japan's Nikkei closed 0.23 percent lower.

In oil markets, Brent crude traded at $52.37 a barrel on Friday, down 0.3 percent, while U.S. crude was around $50.40 a barrel, down 0.15 percent.

—CNBC's Evelyn Cheng contributed to this report