Peter Nurse   

Investing.com: U.S. stocks open slightly higher on Friday as investors show caution before the publication of the highly-sought-after monthly employment report.

The contract traded at 7:05 am ET (1105 GMT) and was trading up 30 points or 0.1%. It also increased 3 points or 0.1% while climbing 7 points or 0.1%.

The U.S. Senate voted to lift the ceiling on federal government spending by $480billion until December. It thereby prevented a potential default, financial crisis, and possible recession. 

The blue-chip gained over 300 points (or 1%), while broad-based rose 0.8%. Tech-heavy increased 1.1%. The week is expected to end with all three indexes finishing higher.

Friday’s main event will be the September official job report, which is due at 8:30 am ET (1230 GMT). Investors use the strength of labor markets as a barometer of the economy and a guide to whether or not the Federal Reserve feels confident in reducing its bond-buying program.

They are likely to increase by 500,000 in September. This is a significant jump after August’s disappointing 235,000 position drop, which was the highest since January. are likely to have risen 0.4% month-on-month, compared with the previous month’s 0.6% rise, while the is set to fall to 5.1% from 5.2%.

In corporate news, Tesla (NASDAQ:) will be in the spotlight Friday after Elon Musk, the electric vehicle manufacturer’s chief executive, confirmed that it will move its company headquarters to Texas from California.

The third quarter earnings season kicks off in earnest next week,  with some of the world’s biggest banks up first. Wells Fargo Bank of America (NYSE) Citigroup JPMorgan Chase and (NYSE:), posted combined profits of $33 billion for the second quarter. The economy recovered, but this momentum may have slowed down in the third quarter.

Crude prices rose Friday, heading for a seventh weekly gain, as the U.S. Energy Department said it has no plans currently to release oil from the country’s strategic reserves.

As a way to reduce oil prices, the possibility of the U.S. increasing supply was discussed Thursday. These are at multi-year highs due to improved fuel demand. This is because OPEC producers have been gradually increasing production, despite fears that a colder winter could further stress gas supplies.

At 7:05 AM ET futures had traded 0.8% higher to $78.92/barrel, and the contract rose 0.7%, reaching $82.55. Brent and WTI both reached new highs earlier in the week. Brent was at a record three year high.

The price rose 0.2% to $1761.95/oz and traded 0.1% higher at 1.1560