US Markets

US stock futures jump after jobs report beats expectations


U.S. stock index futures pointed to a higher open on Friday on better-than-expected employment data.

Dow futures rose 55 points while S&P and Nasdaq futures climbed 3 points and 10 points, respectively.

The U.S. economy added 209,000 jobs last month, according to the Labor Department, well above the expected gain of 183,000.

"If this were a company reporting earnings, this would be a beat and raise in guidance," said Art Hogan, chief market strategist at Wunderlich Securities. "We're also winding down on the earnings season so this came at the perfect time."

The closely watched wage number was unchanged from previous months, with average hourly earnings up 2.5 percent. The average work week also was unchanged at 34.5 hours.

Bars and restaurants provided the biggest boost for the month with 53,000 more positives, while professional and business services contributed 49,000, the Bureau of Labor Statistics said.

Investors were watching out for this report, looking for clues on the chances of further interest rate hikes by the U.S. Federal Reserve.

Meanwhile, oil prices were lower after new data showed rising U.S. production and stronger output from OPEC countries. Brent was trading at $51.51 and WTI at $48.56.

—CNBC's Jeff Cox and Fred Imbert contributed to this report.