US Markets

Stock futures jump after June jobs report blows away expectations


U.S. stock index futures pointed to a higher open on Friday after a stronger-than-expected jobs report was released.

The U.S. economy added 222,000 jobs in June, more than the expected 179,000. The unemployment rate came in at 4.4 percent. Average hourly earnings, meanwhile rose 0.2 percent, less than expected.

Investors watched the report both for headline numbers and for indications on whether worker salaries were increasing. Despite the plunge in the unemployment rate during the recovery, there have been only scant signs of wage pressures.

Dow futures were up 32 points following the data release, while S&P and Nasdaq futures were up 5.25 points and 27.5 points, respectively.

There are no major companies expected to release earnings on Friday.

In Europe, the pan-European Stoxx 600 index was around 0.29 percent lower on Friday. In Asia, the Shanghai Composite in China closed 0.16 percent higher, while the Nikkei in Japan closed 0.32 percent lower.

In oil markets, prices fell more than 2.5 percent on Friday as news of a further increase in U.S. production added to earlier reports that OPEC output was also on the rise.

Brent crude traded at around $46.88 a barrel on Friday, down 2.56 percent, while U.S. crude was around $44.31 a barrel, down 2.66 percent.

—CNBC's Patti Domm and Jeff Cox contributed to this report.