Stock futures moved higher Friday ahead of the release of U.S. labor market data that Federal Reserve officials will be watching closely as they consider their next move on interest rates.

Stock futures edged higher on Friday morning, with investors focused on the upcoming U.S. labor market data, which Federal Reserve officials will scrutinize as they decide their next moves on interest rates. Futures tied to the Dow Jones Industrial Average rose 0.1%, while the S&P 500 and Nasdaq 100 futures gained 0.3% and 0.4%, respectively.

Wall Street has been in a holding pattern recently, awaiting the September jobs report due at 8:30 a.m. ET. With inflation moderating, the Fed has shifted its attention to labor market trends, as it considers the pace and depth of future interest rate cuts following its first reduction in four years last week.

Market sentiment got a lift Thursday evening with news that dockworkers suspended a nationwide strike, easing concerns over potential disruptions to supply chains and further inflationary pressure.

Tech stocks were climbing in premarket trading, with Nvidia (NVDA) up 0.6% after a 3% surge Thursday amid optimism about AI demand. Meta Platforms (META) was up 0.2% and on track for another record high, while Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL), and Amazon (AMZN) also posted gains ahead of the opening bell.

U.S.-traded Chinese stocks extended last week’s rally, fueled by broad stimulus measures from Chinese authorities. The iShares MSCI China ETF (MCHI) climbed nearly 4% in premarket trading, adding to its 30% surge since the initial announcement of economic support.

Crude oil futures rose 1% following a 5% surge on Thursday, driven by escalating tensions in the Middle East. Meanwhile, gold futures remained steady at $2,680 per ounce, and bitcoin rose 1% to $61,300.