By msnbc.com news services
Wall Street is set for a higher open Friday as investors digest the?latest report on the U.S. labor market.
The Labor Department said Friday that U.S. employers added 80,000 jobs last month, while the nation's lofty jobless rate ticked down to 9 percent in October, after holding at 9.1 percent for the previous three months.
Corporate news is another focus, insurer American International Group third-quarter results missed expectations following an impairment charge in its aircraft leasing unit.
Starbucks Corp's quarterly profit beat expectations following strong global sales at cafes.
Troubled brokerage MF Global announced the resignation of its CEO John Corzine Friday. A sale is expected to be agreed by the end of the weekend of the bankrupt company?s operations in Asia and Australia after the provisional liquidator for the brokerage's Hong Kong received nearly 40 credible offers.
PepsiCo Inc beverage subsidiary in China is being sold in China to an unlisted unit of instant noodle and drinks maker Tingyi Holdings Corp, a source with direct knowledge of the matter said.
Groupon Inc has raised $700 million in an initial public offering, making it the largest IPO by an Internet company since Google in 2004.
Banks will also be in the spotlight, the Wall Street Journal reported, citing people familiar with the matter, that the Bank of New York Mellon Corp is in talks with federal prosecutors over a currency lawsuit which accuses the bank of overcharging clients.
The White House said U.S. banks exposure to the euro zone crisis is modest and the United States can cope if the region's debt crisis grows worse as worries intensify about Greece.
European shares rose on Friday on hopes a proposed referendum in Greece on a new bailout package which could threaten its membership in the euros would be avoided, easing concerns about a Greek default.
U.S. stocks rallied on Thursday, also on hopes the referendum would be called off, with the Dow Jones industrial average was up 1.8 percent, the Standard & Poor's 500 Index gained 1.9 percent and the Nasdaq Composite Index rose 2.2 percent.
The Associated Press and Reuters contributed to this report.
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