The main event Friday is likely to be the 8:30 a.m. Eastern time release of the November nonfarm payrolls data. Economists surveyed by MarketWatch produced a forecast for the number of workers to rise by 125,000.

European equities shot higher Friday as a speech by German Chancellor Angela Merkel reinforced the view that European leaders are prepared to take big steps at a Dec. 9 summit toward tighter fiscal union. Merkel called for a quick round of treaty changes that would allow closer fiscal coordination.

Merkel and French President Nicolas Sarkozy pledged to present proposals for coordinating budget policy across the 17-nation euro area. European Central Bank President Mario Draghi on Thursday hinted that completion of a new “fiscal compact” by European leaders could clear the way for more aggressive action to combat the crisis by the central bank.