The quarterly dividends of Nucor went up by 23%.
Dec 3 Reuters -- Wall Street's main indexes were set to open higher on Friday after a weaker than expected growth in U.S. jobs eased concerns about the Federal Reserve's tightening of monetary policy.
The Labor Department said last month, non-farm payrolls increased by 210,000 jobs, while the unemployment rate fell to 4.2%, the lowest since February 2020, and wages increased further.
Economists polled by Reuters had predicted that payrolls would increase by 550,000 jobs.
Thomas Hayes, managing member at Great Hill Capital Llc in New York, said that the payrolls numbers are a big disappointment and the market is up because the market is anticipating the Fed can't be so quick.
The Fed Chair Jerome Powell said earlier this week that the U.S. central bank will consider a faster wind-down to its bond-buying program, a move that has been seen as opening the door to earlier interest rate hikes.
Equity markets flitted between gains and losses as investors digested the newly discovered Omicron coronaviruses variant, which is spreading worldwide and has caused many countries to impose travel restrictions.
The CBOE Market Volatility index, the main three indexes, spiking above 30 for the first time in ten months, is on course for weekly losses, with Wall Street's fear gauge, the CBOE Market Volatility Index, spiking above 30 for the first time in ten months earlier this week.
Brian Vendig, president, MJP Wealth Advisors, said we had a very volatile week and I see that back and forth environment staying somewhat at equilibrium as we get more news on either side of the impact of Fed policy decisions, as well as more information on the Omicron variant.
After markets are open, there is a reading on the non-manufacturing PMI report by ISM.
Dow e-minis were up 120 points, or 0.35%, S&P 500 e-minis were up 19.25 points, or 0.42%, and Nasdaq 100 e-minis increased by 77 points, or 0.48%.
The Democratic-controlled U.S. Senate passed a bill to fund the government through mid-February, preventing the risk of a shutdown.
Ulta Beauty jumped by 4.6% after the beauty retailer raised annual sales and profit forecasts.
Nucor Corp went up by 3.0% after the steel products maker increased its quarterly dividend by 23% and announced a $4 billion buyback program.