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* U.S. nonfarm payrolls increase by the most in 10 months
* Uber slips on disclosing sexual assault reports
* Ulta Beauty jumps on quarterly profit beat
* Futures up: Dow 0.66%, S&P 500 0.65%, Nasdaq 0.83%
(Adds comments, updates market action)
By Shreyashi Sanyal
Dec 6 (Reuters) - U.S. stocks were set to rise on Friday
after data showed domestic job growth increased by the most in
10 months in November, adding to an upbeat mood after President
Donald Trump said the trade talks with China were "moving right
along".
Job growth last month was largely boosted by former striking
workers returning to General Motors' GM.N payrolls and more
hiring in the healthcare industry. Labor Department's report confirmed that the economy
remained on a moderate expansion path despite a prolonged
manufacturing slump.
"Overall, this was a very solid report and should put those
fears of recession firmly in the rear view," said Michael Arone,
chief investment strategist at State Street Global Advisors,
Boston.
Nonfarm payrolls increased by 266,000 jobs last month,
trouncing expectations of 180,000 additions as per economists
polled by Reuters.
Markets already had a positive start to the day on Trump's
remarks around the trade discussions. Also supporting the mood
was a positive gesture from China after it said the country will
waive import tariffs for some soybeans and pork shipments from
the United States.
"Not only the jobs data, but most economic data will
continue to take a back seat to the U.S.-China trade
negotiations and as the Dec. 15th date continues to loom over
markets," Arone said.
If no deal is reached between the two countries soon, more
tariffs on Chinese goods would come into effect from Dec. 15.
Wall Street has had a tumultuous run through the week with
every new headline on the U.S.-China trade war. All of the main
indexes are now set to log weekly losses of around 1% each.
Later in the day, the preliminary number for University of
Michigan surveys of consumers sentiment for December is expected
to be 97, up from 96.8 last month.
At 8:56 a.m. ET, Dow e-minis 1YMcv1 were up 183 points, or
0.66%. S&P 500 e-minis EScv1 were up 20.25 points, or 0.65%
and Nasdaq 100 e-minis NQcv1 were up 69 points, or 0.83%.
Among stocks, Uber Technologies Inc UBER.N fell 1% in
premarket trading after it said it received over 3,000 reports
of sexual assault related to its 1.3 billion rides in the United
States last year. Ulta Beauty Inc ULTA.O jumped 9.3% after the cosmetics
retailer beat quarterly profit expectations. Tesla Inc TSLA.O rose 2% after the electric vehicle maker
said its Chinese-built Model 3 cars would receive state
subsidies.