U.S. stock futures traded higher late Thursday as investors awaited the September nonfarm payrolls report, which is expected to offer signals on the Federal Reserve's next interest rate decision. As of 10:18 p.m. EDT, Dow futures rose 0.09%, S&P 500 futures gained 0.18%, and Nasdaq-100 futures climbed 0.36%.

The advance followed a session on Thursday where all three benchmark indexes closed higher to start the new quarter. The Dow Jones Industrial Average increased by 0.04%, the S&P 500 rose 0.19%, and the Nasdaq Composite gained 0.04%.

Traders are focused on Friday's jobs report, with the Dow Jones consensus projecting job growth of 84,000 and a steady unemployment rate at 4.1%. This data arrives amid inflation figures that, while easing, remain above the Fed's 2% target. According to the CME FedWatch tool, the probability of a Fed rate hike has dropped to 24.9% from 68.6% a week earlier.

Christopher Hodge, chief U.S. economist at Natixis CIB Americas, told CNBC that a strong jobs report alone would likely not prompt a rate increase in October. He expects payrolls to increase by 60,000, which would bring the three-month moving average of gains to 81,000. Hodge noted that manufacturing and construction growth, driven partly by data-center buildouts, supports his outlook.

Federal Reserve officials offered varying perspectives on monetary policy this week. Dallas Fed President Lorie Logan stated that rates may need to rise by at least 50 basis points to control inflation. Fed Governor Lisa Cook identified AI-driven inflation as a significant risk for 2027, while Minneapolis Fed President Neel Kashkari suggested additional hikes might be needed through 2027, though he was uncertain if the next move would come in October.

U.S. Treasury yields reached multiyear highs this week before pulling back on Thursday. The 10-year U.S. Treasury yield traded at 5.256%, down from a previous high of 5.3%, while the 30-year Treasury bond yield stood at 5.629%.

Corporate news also moved markets on Thursday. Nike reported fiscal first-quarter revenue of $11.2 billion, down 4% year over year, with adjusted earnings per share of $0.48. The company forecast a high-single-digit revenue decline for fiscal 2027 and adjusted EPS of $1.15 to $1.35, figures that fell below analyst expectations. Nike shares dropped nearly 9% in the overnight session following the report.

Netflix shares drew attention after co-CEO Ted Sarandos said the company is not growing as quickly as he would like. Alibaba Group Holding Ltd. was in focus amid reports that China may allow it to purchase Nvidia’s RTX PRO 5500 professional GPUs. Evernorth Holdings Inc. shares jumped more than 9% after shareholders approved its Armada II business combination, expected to raise about $300 million in gross proceeds.

Oil prices remained elevated, with Brent crude futures expiring in December trading at $102.35 a barrel and WTI crude futures expiring in November at $92.78 per barrel. Asian markets opened mixed on Friday, with South Korea's KOSPI, China’s SSE Composite, and Australian stocks rising, while Japan’s Nikkei 225 trended lower.