US pre-open: Dow futures point to gains following record close

US futures were pointing to yet another positive open on the Street as market participants awaited the key monthly jobs report due out later in the session.

As of 1230 GMT, Dow futures were up 0.19%, while S&P 500 and Nasdaq-100 futures had the indices opening 0.24% and 0.41% firmer, respectively.

The Dow closed 211.81 points higher on Thursday at a record high of 28,956.90, close to the psychologically-important 29,000 point level, as Washington appeared to take steps to avoid further conflict in the Middle East and investors turned their attention back to the US-China trade front.

While tensions with Tehran seemed to be cooling, Canadian Prime Minister Justin Trudeau said on Thursday that a Boeing plane that crashed in Iran earlier in the week, killing 176 people, was likely brought down by an Iranian missile.

The House also passed a resolution to limit President Donald Trump's war powers against Tehran on Thursday, with many concerned about the prospect of another escalation of tensions.

Elsewhere, Trump said he might wait until after the 2020 presidential election to finalise the second part of the US' trade deal with China. However, representatives of both nations will meet at the White House next week to sign the first phase of the agreement.

AJ Bell's investment director Ross Mould said: "Diminishing geo-political risks have got traders and investors pushing the buy button again as shares in consumer electronics giant Apple hit a new high and the Dow Jones index also reaches record levels overnight."

On the data front, nonfarm payrolls and unemployment figures will be released at 1330 GMT and wholesale inventories will be published at 1500 GMT.

Oanda's Craig Erlam said: "After such a bizarre start to the year, it's easy to forget about the US jobs report today. Typically this has a massive red circle around it in the economic calendar but it's understandably not attracting the attention it would usually receive."

However, analysts at TD Securities said they saw "more downside than upside risk" for payrolls in December after "an exaggerated surge" in November.

No major corporate earnings were scheduled for release on Friday.