1. Futures higher before and after jobs data

Traders work on the floor of the NYSE.
Brendan McDermid | Reuters

U.S. stock futures continued higher after the government announced Friday morning that November job growth was much stronger than expected. Also adding to the bullish sentiment, China on Friday said it will waive import tariffs for some soybeans and pork shipments from the U.S., as Beijing and Washington try to cement a "phase one" trade deal before the next round of American tariffs on Chinese goods take effect on Dec. 15. President Donald Trump struck an upbeat tone on progress in trade talks on Thursday as the Dow Jones Industrial Average logged its second straight positive session. However, for the week, the Dow was still down 1.3% ahead of Friday's trading and off nearly 1.8% from last week's record highs.

2. Jobs growth soars in November

A General Motors assembly worker moves a V6 engine, used in a variety of GM cars, trucks and crossovers, from the final assembly line at the GM Romulus Powertrain plant in Romulus, Michigan, August 21, 2019.
Rebecca Cook | Reuters

The U.S. economy created 266,000 nonfarm jobs in November, according to the Labor Department's monthly report released one hour before Wall Street's 9:30 a.m. ET open. Economists surveyed by Dow Jones had expected job growth of 187,000 positions. The unemployment rate fell to 3.5% last month. Expectations had called for the jobless rate to hold steady at 3.6%. The GM strike ending had a big effect, boosting employment in motor vehicles and parts by 41,300, part of an overall 54,000 gain in manufacturing.