Stock Futures Climb After Key Jobs Report

Stock futures are cautiously higher today, as investors react to the highly-anticipated jobs report for November. According to the Bureau of Labor Statistics, nonfarm payrolls increased 227,000 last month to beat expectations, while the unemployment rate was in line with estimates after edging up to 4.2%. While the former was better than expected, it's likely not enough to stop the Federal Reserve from slashing interest rates later this month; CME's FedWatch tool shows an 88% chance the central bank cuts rates at its meeting next week.

Despite yesterday touching a new intraday high, the Dow Jones Industrial Average (DJIA) is on track for a weekly loss, while the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are pacing for their third-straight weeks of gains.

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

• Use options to enhance your day trading.
• Three discount retail stocks that moved after earnings.
• Plus, three earnings reports to unpack this morning.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw over 2 million call contracts and more than 1 million put contracts exchanged Thursday. The single-session equity put/call ratio ticked up slightly to 0.50 and the 21-day moving average remained at 0.62.
2. Lululemon Athletica Inc (NASDAQ:LULU) stock is up 8.6% before the bell, after the apparel retailer's third-quarter earnings and revenue beat Wall Street's estimates. Adding fuel to the fire, Lululemon provided holiday-shopping season guidance that matched analysts expectations. LULU could use a holiday boost too, as it sports a 32.6% year-to-date deficit.
3. Shares of DocuSign Inc (NASDAQ:DOCU) are surging 13.8% before the bell, eyeing an open above $95 after sharing a fourth-quarter revenue outlook that is above estimates. The estimated range of $758 million to $762 million came after the company posted a third-quarter earnings and revenue beat. DOCU has added 40% in 2024 and is eyeing an open at two-year highs.
4. Makeup retailer Ulta Beauty Inc (NASDAQ:ULTA) is climbing 10% ahead of the open, enjoying the fruits of its third-quarter earnings and revenue beat. A hiked full-year outlook is also boosting shares, which could aid in the equity’s recovery of its 19% year-to-date deficit.
5. There's a host of inflation data and earnings ahead.

Political Turmoil Weighs on Overseas Markets

Continued political tension across the globe strained Asian markets. The South Korean Kospi was flat, as traders await news on President Yoon Suk Yeol’s potential impeachment while weighing regional revised gross domestic product (GDP) data, which exhibited a 0.1% expansion quarter-over-quarter. Japan's Nikkei shed 0.8%, after the Bank of Japan (BoJ) warned its inflation target of 2% may be missed over the next few years as economic growth slows. Rounding out the region, Hong Kong’s Hang Seng added 1.6%, China’s Shanghai Composite fell 0.6%.

French political turmoil continues to fill the spotlight in Europe, as it contends with Prime Minister Michel Barnier’s budget defiance and subsequent pushback from lawmakers. Elsewhere, housing costs in the U.K. rose 4.8% year-over-year in November and 1.3% month-over-month. At last glance, London’s FTSE 100 is flat, France’s CAC 40 is 1.5% higher, and Germany’s DAX has added 0.3%.