By Sujata Rao
Poland seems ready to drop its veto on the EU's 1.8 trillion-euro stimulus package -- possibly the bloc's threat to proceed without Poland and Hungary worked? It's a positive, even if few ever believed the duo could torpedo such a crucial development.
Other good news: German industrial orders rose more than expected in October, though lets not forget it's the services sector that is taking the most pain. We also had positive signals on Thursday on the U.S. stimulus package.
On the downside, a report of supply chain obstacles related to Pfizer (NYSE:PFE)'s COVID-19 vaccine dragged down the S&P500. European shares look set to open subdued though Wall Street futures are modestly higher.
Vaccine delays are bad news given world markets are more or less pricing in a return to normal activity in 2020. And COVID-19 continues to take a grim toll, with 1.5 million killed worldwide so far. Any regional improvements, as in Europe, have mostly come at the expense of economic activity.
Meanwhile U.S. unemployment is stuck around 10 million, and date on Friday is expected to reveal 520,000 jobs added in November, well below October's 638,000.
Damage is also still being done to Sino-U.S. ties - the White House has added Chinese chipmaker, SMIC, and oil giant CNOOC to a blacklist of companies.
That hasn't stopped the yuan from hitting a new 2-1/2 year high to the dollar which remains under heavy pressure. Emerging currencies and stocks are buoyant too.
Finally, in a sign of optimism, budget carrier Ryanair ordered 75 Boeing (NYSE:BA) jets with a list price of $9 billion.
Key developments that should provide direction to markets on Friday :
-Fed officials Michelle Bowman and Charles Evans speak
-U.S. payrolls, durable goods orders, trade balance
-Brexit talks continue but said to be in "difficult phase"
-Growth barometer copper is at 8-year highs
-Primark fashion chain estimates 430 million-pound hit from COVID-19