* U.S. jobs grow in Nov, jobless rate dips to 7.7 pct
* Nonfarm jobs unexpectedly grew by 146,000 in November
* Facebook post by Netflix executive triggers SEC notice
* Futures up: S&P 7 pts, Dow 75 pts, Nasdaq 18 pts
By Angela Moon
NEW YORK, Dec 7 Wall Street was set for a higher
open on Friday in the wake of data showing U.S. employment grew
in November, defying expectations of a sharp pull back relating
to Superstorm Sandy.
Nonfarm employment increased by 146,000 jobs last month, the
Labor Department said on Friday, but a drop in the jobless rate
to a near-four year low as people gave up the search for work
suggested the labor market was still tepid.
"Overall, this is a pretty good number, even though we had a
downward revision to the previous month," said Kathy Lien,
managing director at BK Asset Management in New York.
"The real question, though, is whether this changes the
Fed's attitude toward more stimulus. It doesn't remove the need
for stimulus but might convince the Fed to opt for a smaller
Also to be released Friday is the Thomson Reuters/University
of Michigan's consumer sentiment index, at 9:55 a.m. (1455 GMT).
Economists surveyed by Reuters expect a preliminary December
reading of 82.4, down from 82.7 a month earlier.
Despite the strong gains in U.S. stock index futures, the
market could easily turn course as investors remain anxious amid
ongoing fiscal negotiations by congressional leaders.
S&P 500 futures gained 7 points and were above fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures gained 75
points and Nasdaq 100 futures added 18 points.
Amarin Corp shares fell 18.5 percent to $9.74 in
premarket trading after the bio-pharmaceutical company raised
$100 million in financing to help it launch its heart drug,
Vascepa, but disappointed investors, who had hoped for a sale or
Netflix Inc may be in focus. Securities regulators
may bring civil action against the firm and its chief executive
for violating public disclosure rules with a Facebook post,
Netflix said Thursday. The case raises questions about how
public companies communicate on social media.
Netflix shares were up 2.2 percent at $88.02 in premarket trade.