Chinese tech company Baidu's robotaxi unit Apollo Go is in talks to expand overseas in the near future, according to a source familiar with the situation.
U.S. stock futures rose slightly early Friday as traders looked ahead to the widely anticipated release of September’s jobs report. Futures tied to the Dow Jones Industrial Average gained 57 points, or 0.1%. S&P 500 futures and Nasdaq 100 futures climbed 0.3% and 0.4%, respectively. Economists polled by Dow Jones expect that nonfarm payrolls will show growth of 150,000, up from 142,000 in August. The unemployment rate is expected to hold steady at 4.2%. The employment data will likely only move markets if it comes in below expectations, said Barbara Doran, founder of BD8 Capital Partners. “I think the number tomorrow is important, but I don’t think it will have a big impact, and I’d also be very surprised if it’s not a good number,” she said on CNBC’s “Closing Bell: Overtime” on Thursday afternoon. Mounting geopolitical tensions have contributed to a shaky start in October for the stock market. These headwinds could weigh equities lower so they end the week in negative territory, Doran added. All three major averages are on pace to snap a three-week win streak. The S&P 500 is off 0.7% week to date, as is the Dow. The Nasdaq is on track for a loss of 1.1% in the period. U.S. oil futures climbed about 5% Thursday, weighing on the major averages. Crude prices were up another 1.6% on Friday. Energy prices have taken a leg higher this week, spurred by heightened tensions in the Middle East after Iran launched a missile attack on Israel. To be sure, one overhang has been removed after a closely watched port strike ended Thursday night, as the International Longshoremen’s Association and the United States Maritime Alliance reached a tentative agreement on wages. The parties also agreed to extend their existing contract into January to allow more time for further negotiations. U.S. Treasury yields were little changed Friday as investors gear up for the closely watched September jobs report. The 10-year Treasury yield was higher by less than 1 basis point at 3.859%, while the yield on the 2-year Treasury was also less than 1 basis point higher at 3.721%. Asia-Pacific markets traded mixed on Friday following losses on Wall Street, with concerns over Middle East tensions keeping investors on edge in the run up to September’s U.S. payrolls report. Hong Kong’s Hang Seng index is up over 2%, resuming a rally after slipping 1% in its first hour of trade. Australia’s S&P/ASX 200 lost 0.67% to close at 8,150 points. Japan’s Nikkei 225 added 0.22% to close at 38,635.62 points points, while the broad-based Topix inched up 0.39% to end at 2,694.07 points. South Korea’s Kospi was trading 0.31% higher to close at 2,569.71 points, while the Kosdaq rose 0.9% to close at 768.98 points. Markets in mainland China will reopen on Oct. 8. Chinese stocks had been on a tear after authorities announced a slew of support measures last week. Gold prices were little changed on Friday as investors maintained caution ahead of a key U.S. jobs report that could influence the Federal Reserve’s rate path. Spot gold was nearly steady at $2,659.13 per ounce by 1019 GMT, after scaling a record high of $2,685.42 last week. U.S. gold futures were flat at $2,679.10. “Gold has had a very good run in recent weeks, so (it is) not that surprising it isn’t pushing significantly higher. ... U.S. Treasury yields have risen and the dollar has appreciated, presenting some headwinds despite the geopolitical tailwind,” Nitesh Shah, commodity strategist at WisdomTree, said.
Meta is working with U.K. banks NatWest and Metro Bank on an information-sharing agreement to help them prevent customers from falling victim to fraud.
