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Futures Hit Another All Time High Ahead Of Jobs Report Expected To Show Slowdown In Hiring

Another day ending in -day, another all time high in US risk markets.

US stock-index futures rose ahead of a pivotal US jobs report that could affect the timing of the Federal Reserve’s stimulus tapering. Eminis rose 8 point or 0.2%, just shy of an all time high of 4,545.75 hit earlier in the session after energy shares drove the gauge to an all-time high Thursday. The ramp followed news that Japan’s PM Suga was stepping down which was immediately spun as positive for risk assets as his successor was expected to inject even more stimulus. Dow e-minis were up 56 points, or 0.16% and Nasdaq 100 e-minis were up 25 points, or 0.16%. Global stocks paused near record highs on Friday, contrasting with a still wobbly dollar as investors watch if U.S. payrolls figures alter their expectations on when the Federal Reserve might scale back on its massive pandemic-era stimulus. Treasuries fell, the dollar dropped, gold rose, and ethereum soared again, rising just shy of $4,000.

In premarket trading, Chinese ride-hailing firm Didi gained 5.1% after a media report that the city of Beijing was considering moves that would give state entities control of the company. Banks were among the top gainers before the opening bell, with Goldman Sachs, Bank of America, J.P.Morgan and Wells Fargo all rising between 0.3% and 0.7%. As a reminder, earlier this week we noted that bank buybacks just hit a new all time high. Shares of Forte Biosciences sank 81% in premarket trading after the company said it won’t advance the development its flagship atopic dermatitis treatment after a failed trial. In corporate news, HSBC predicted it will be operating in a profoundly different way after the virus outbreak ebbs, with as many as 70% of its staff backing a hybrid working model and with its business travel budget cut in half. Here are some other notable premarket movers:

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