US pre-open: Futures edge higher with Middle East tensions, payrolls in focus
By Iain Gilbert
Date: Friday 08 May 2026
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Friday as market participants monitored developments in the US and Israel's conflict with Iran and looked ahead to the release of April's non‑farm payrolls report.
As of 1245 BST, Dow Jones futures were up 0.32%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.49% and 0.69% firmer, respectively.
The Dow Jones closed 313.62 points lower on Thursday after a senior Iranian official said Tehran would not allow the US to reopen the Strait of Hormuz with what it called an "unrealistic plan", according to the Wall Street Journal. The official also warned that Washington would not be permitted to exit the conflict without paying reparations for the damage it has caused.
Oil prices were slightly higher in early trading, with West Texas Intermediate crude up 0.02% at $94.83 a barrel and international benchmark Brent crude futures 0.51% higher at $100.57 a barrel, after US and Iranian forces exchanged fire in the Strait of Hormuz. Each side accused the other of initiating the confrontation.
US Central Command said American forces had "intercepted unprovoked Iranian attacks and responded with self‑defense strikes" as three US Navy destroyers transited the waterway. Donald Trump said there had been "no damage done to the three Destroyers, but great damage done to the Iranian attackers". He added that the ceasefire remained in effect, describing the strikes on Iranian targets as "just a love tap".
Outside of Middle East developments, Friday's primary focus will undoubtedly be April's non-farm payrolls report at 1330 BST, with consensus expectations for a 62,000 increase in non-farm payrolls and for the US unemployment rate to hold steady at 4.3%. Last month's NFP figures come hot on the heels of ADP private sector employment figures, which revealed US employment rose by a better-than-expected 109,0000 month-on-month print, versus expectations for a 99,000 increase. Meanwhile, the March figure was revised to show that 62,000 jobs were added, rather than 61,000.
"With ADP private payrolls coming in better than expected, the numbers could come in a little stronger," noted Hargreaves Lansdown's Derren Nathan. "That's a pretty resilient outcome given the geopolitical backdrop. So far, AI is not proving to be the end of the jobs market as we know it, with skilled labour in particularly high demand. With inflationary concerns running high, a strong print could move expectations for rate cuts further out yet."
Elsewhere on the macro front, a preliminary reading of the University of Michigan's consumer sentiment index will be released at 1500 BST.
No major corporate earnings were slated for release on Friday.
Reporting by Iain Gilbert at Sharecast.com
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