US Futures Edge Lower; Nonfarm Payrolls in Focus By Investing.com – Investing.com

US Futures Edge Lower; Nonfarm Payrolls in Focus By Investing.com – Investing.com

© Reuters

By Peter Nurse   

Investing.com - U.S. stocks are seen opening in muted fashion Friday, at the end of a volatile week driven by news surrounding the omicron Covid variant and ahead of the release of the key monthly U.S. employment report.

At 7 AM ET (1200 GMT), the contract was down 20 points, or 0.1%, traded 3 points, or 0.1%, lower and dropped 10 points, or 0.1%.

The major indices rebounded Thursday, with the blue chip gaining over 600 points, or 1.8%, the broad-based rose 1.4% and the gained 0.8%.

However, despite these gains, the indices are on course for a losing week, marked by turbulent trading as investors tried to digest the economic repercussions of the new Omicron variant. The Dow and the Nasdaq are each about 0.7% lower on the week, while the S&P 500 is down 0.4%.

The Biden administration announced new rules late Thursday, to take effect on Monday, requiring international air travelers arriving in the United States to obtain a negative Covid-19 test within one day of travel.

Elsewhere, investors will carefully study the official monthly jobs report, due at 8:30 AM ET (1330 GMT), especially