US Markets

US stock futures extend gains after jobs report beat

January sees solid job growth but unemployment rate ticks higher

U.S. stock index futures traded higher on Friday after the Labor Department said the U.S. economy added more jobs than expected last month.

Nonfarm payrolls grew by 227,000 in January while the unemployment rate edged higher to 4.8 percent. The report was the first since President Donald Trump took office on Jan. 20. In the past, Trump has been critical of the unemployment rate, saying it understates the actual level of joblessness.

Elsewhere on the data front, Markit services PMI is due at 9:45 a.m. ET, with the ISM non-manufacturing index and factory orders set to come out at 10 a.m. ET.

On the earnings front, Clorox was among the companies that reported before the bell.

Stocks were on track to post weekly losses amid uncertainty surrounding some of the Trump administration's policies. On Friday, the Wall Street Journal reported President Donald Trump will sign an executive order aimed at watering down the 2010 Dodd-Frank regulatory framework.

In Europe, the pan European Stoxx 600 Index was 0.6 percent higher on Friday.

In oil markets Friday, Brent crude was around $56.73 a barrel, up 0.3 percent, while U.S. crude was at $53.70 a barrel, up 0.3 percent.

—CNBC's Jeff Cox contributed to this report.