Job Gains May Perk Up Risk Appetite

The major U.S. index futures are pointing to a sharply higher opening on Friday, with sentiment getting a solid boost from the U.S. non-farm payrolls report that showed that the economy added much more jobs than had been anticipated. Additionally, the unemployment rate ticked down- both serving as confirmation that the job market is up on its foot and could gain steam in the months to come. The hopes should lead to buying, although the overbought levels of the markets and the ongoing concerns about the sovereign debt situation in Europe may temper some of the optimism.