Dow, Nasdaq Futures Jump Triple Digits After Jobs Report

Stock futures are storming higher today, as investors cheer an outstanding September's jobs report. According to the Labor Department, the U.S. economy added more jobs than expected last month, with nonfarm payrolls coming in at 254,000, well above the 150,000 forecast. In addition, the unemployment rate fell 0.1 percentage point to 4.1%. Rising alongside the broader market are U.S. Treasury yields, with the benchmark 10-year bond note jumping more than 11 basis points to 3.967%.

At last glance, futures tied to the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) were both up triple digits, while S&P 500 Index (SPX) futures also trade above fair market value. Previously on track to snap three-week winning streaks, today's bounce could help Wall Street claw into the black.

Continue reading for more on today's market, including: 

• 2 utility stocks having great years.
• Options traders still love this semiconductor stock.
• Plus, Rivian's delivery woes; Spirit nears bankruptcy; and CVS' dire position.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 1.4 million call contracts and 1 million put contracts exchanged on Thursday. The single-session equity put/call ratio rose to 0.71 and the 21-day moving average remained at 0.64.
2. Rivian Automotive Inc (NASDAQ:RIVN) stock is 7.2% lower before the open, after the electric vehicle (EV) maker reported cut its full-year deliveries guidance. In addition, third-quarter production and customer deliveries fell 19% and 36%, respectively, year over year. RIVN is down 54% since the start of 2024.
3. Spirit Airlines Co (NYSE:SAVE) stock sports a 32.1% pre-market deficit this morning, after a Wall Street Journal reported the discount airline company is in talks with bondholders regarding the terms of a potential bankruptcy filing after its merger with JetBlue Airlines (JBLU) fell apart. Year today, SAVE is already down 86%.
4. CVS Health Corp (NYSE:CVS) stock is 2.1% higher before the bell, following a bull note from TD Cowen. The analyst upgraded shares of the healthcare giant to "buy" from "hold" and hiked its target price from $59 to $85 -- a 35% premium to last night's close -- after reports dropped this week that a breakup is possible as the company's board conducts a strategic review. CVS is down 20.3% since the beginning of the year.
5. A look at what's coming up next week.

Stocks in Asia Close Week Higher

Asian markets finished the week firmly higher today, though mainland China’s Shanghai Composite remained closed for holiday. Hong Kong’s Hang Seng was the region’s big winner, paring early morning losses to finish 2.8% higher. Japan’s Nikkei added 0.2%, while South Korea’s Kospi tacked on 0.3%.

European bourses are more of a mixed bag, with energy and auto stocks among the notable gainers. At last check, London’s FTSE 100 is down 0.5%, the French CAC 40 is 0.5% higher, and the German DAX is up 0.2%.