Jobs data, a potential tariff ruling, the latest on Venezuela and more in Morning Squawk

As we move into Friday, investors are gearing up for a busy market day, with stock futures hovering close to unchanged levels. The S&P 500 concluded its previous session with minimal shifts, but today brings critical updates that could impact market dynamics. First on the agenda is the highly anticipated jobs report, set to be released at 8:30 a.m. Eastern Time. This labor market data is crucial for assessing the U.S. economy's health and will play a significant role in shaping future interest rate decisions. In addition to the jobs report, the Supreme Court is expected to announce a ruling regarding the legality of former President Donald Trump's tariff policies. According to reports, the court’s decision might grant limited powers to Trump, potentially allowing for a partial continuation of the tariffs. If the ruling does not favor Trump, he has indicated that alternative measures would be implemented to maintain tariffs in some form. Recent data has shown the impact of these tariffs, with the U.S. trade deficit in October dropping 39% from the previous month, reaching its lowest point since 2009, as per the Commerce Department. In foreign policy news, Trump declared on social media that he has canceled further military actions against Venezuela, citing positive cooperation between the U.S. and Venezuelan governments. This announcement comes after the Senate voted to block any additional military strikes, signaling a shift in the administration's approach. This afternoon, Trump is scheduled to meet with leaders from major oil companies, including Exxon and Shell, to discuss the situation in Venezuela following the ousting of President Nicolás Maduro. Meanwhile, Saks Global is facing challenges, reportedly struggling to secure up to $1 billion in financing necessary to avoid bankruptcy. Concerns about the luxury retailer's future have made investors hesitant to provide the needed funds, jeopardizing its chances of recovery. On the automotive front, General Motors revealed it expects to incur $7.1 billion in special charges in the last quarter of 2025, primarily due to adjustments in its electric vehicle strategies as demand wanes. This financial update precedes GM's upcoming earnings report and follows a robust year for its stock performance. Stay tuned for more updates as these stories develop and impact the markets throughout the day.