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Last updated November 6, 2009: 7:45 AM ET --- U.S. stock futures are trading higher Friday ahead of the Labor Departments report on October employment. The report is considered a key gauge of the health of consumer spending, which is a major component of economic activity, and is due out at 8:30 AM ET. Economists expect a decline of around 175,000 jobs during the month. The unemployment rate is expected to rise 9.9%. A better-than-expected report on jobs on Thursday boosted optimism for a good reading on employment and helped stocks. Other economic reports due out today include wholesale inventories and consumer credit. Starbucks (NASDAQ:SBUX) shares rose nearly 5% in premarket trading as the company improved its earnings outlook and reported a fiscal Q4 profit of $150 million. AIG (NYSE:AIG) shares dropped 4% despite reporting a Q3 profit. The Dow Jones Industrial Average futures are trading 9.00 points higher, the S&P500 futures are up 0.50 points, and the Nasdaq Composite futures are up 2.75 points.

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