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U.S. equity futures moved higher in early Friday trading as investors looked to rebound from a difficult October with eyes on a crucial jobs report heading into next week's presidential elections and Federal Reserve policy meeting.

Stocks ended lower on Thursday, extending an October decline that snapped a five month winning streak for the major benchmarks defined by the biggest selloff in U.S. Treasuries for at least two years.

A slate of disappointing earnings from Magnificent 7 tech giants added to the market's angst, although a solid update last night from Amazon  (AMZN)  could offset a muted iPhone 16 sales outlook from Apple  (AAPL)  heading into the start of Friday trading.

However, with a key October payroll looming, and next week's headline risks - including a deadlocked election race between Vice President Kamala Harris and former President Donald Trump - looming, market volatility gauges are showing Wall Street fears levels at multi-month highs.

The CBOE Group's VIX index was last marked 11.1% higher in after-hours trading at $22.61, a level that suggests daily swings for the S&P 500 of around 1.4%, or 80 points, over the next month.

The MOVE index, a similar gauge for the bond market, was pegged at its highest levels of the year as benchmark 10-year Treasury yields tested a key level of 4.30% heading into today's October jobs report.

Analysts expect the Labor Department to show that around 106,000 new jobs were created last month, a big drop-off from the 254,000 recorded in September thanks in part to a twin set of Hurricanes that hammered Florida and the southeast last month.

Global oil prices were also on the move, rising nearly $2 per barrel and lifting WTI crude futures well past the $70 market following reports that suggest Iran is preparing a military strike on Israel as the regions military tensions continue to escalate.

Brent crude contracts for January delivery, the global pricing benchmark, were last seen $1.88 higher at $74.70 per barrel.

Heading into the start of the trading day on Wall Street, futures contacts tied to the S&P 500, which ended October with a 0.99% decline, are priced for a modest 16 point opening bell gain.

The tech-focused Nasdaq, which fell 0.52% last month is priced for a 75 point bump while the Dow Jones Industrial Average is called 80 points higher.

Amazon shares, which sit in all three major benchmarks, were one of the most active names in premarket, rising 6.2% to $197.75 each after a better-than-expected third quarter earnings report that included a solid outlook for retail sales.