Stocks: Optimistic ahead of jobs report

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NEW YORK (CNNMoney)

U.S. stock futures were moving higher Friday morning in advance of the highly-anticipated jobs report, which could show last year was the strongest since 2005.

That year the economy added 2.5 million jobs, and the running total for 2013 so far is 2.1 million.

The U.S. government is scheduled to release its monthly jobs report at 8:30 a.m. ET Friday.

Economists surveyed by CNNMoney predict that the economy added 193,000 jobs in December, and that the unemployment rate remained at 7%. That would be slightly weaker than the 203,000 jobs created in November, but still a solid hiring rate.

The report, which is the final jobs reading of 2013, will provide an important gauge of the economy's recent momentum, and could influence the Federal Reserve's plans for its monetary stimulus program.

The jobs report is known to be a big market mover, significantly influencing the investment decisions of traders and investors.

Related: Fear & Greed Index

Also on Friday, the Census Bureau will release its monthly report on wholesale inventories at 10:00, and Infosys (INFY) will release quarterly results before the opening bell.

U.S. stocks finished flat Thursday. Investors were essentially twiddling their thumbs in the run-up to the Friday jobs report.

Alcoa (AA, Fortune 500) shares sank in after-hours trading Thursday after the aluminum producer reported quarterly earnings that missed estimates.

European markets were rising in morning trading, with most indexes advancing by roughly 0.6%.

Asian markets closed with mixed results. The biggest mover was the Shanghai Composite index, which declined by 0.7% throughout the day.

First Published: January 10, 2014: 4:47 AM ET

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