* Nonfarm payrolls sharply increase in Oct
* Nvidia up after results
* TripAdvisor sinks after results
* Futures down: Dow 36 pts, S&P 5.75 pts, Nasdaq 9.5 pts (Adds details, updates prices)
By Abhiram Nandakumar
Nov 6 (Reuters) - U.S. stock indexes were set to open lower on Friday after data showed job growth surged in October, pointing to a stronger labor market and boosting prospects that the Federal Reserve will raise interest rates next month.
The Labor Department report showed nonfarm payrolls increased by 271,000 in October, beating the 180,000 expected. September’s figures were revised lower to 137,000 from 142,000.
The unemployment rate fell to 5.0 percent, the lowest since April 2008, from 5.1 percent in September. The jobless rate is now at a level many Fed officials view as consistent with full employment.
“This is without question the sort of report that will continue to keep the hike conversation for December alive and well,” said Tom Porcelli, Chief U.S. Economist at RBC Capital Markets in New York.
“For even those folks that have been doubters about it, this has to pull them to the other side in terms of that conversation,” he said. “One number in and of itself will not dictate if a hike happens or not, but a number like this is hard to shrug off.”
Traders raised the odds of a hike in December to 70 percent from the 58 percent just before the jobs data was released, according to the CME Group’s FedWatch program.
Fed Chair Janet Yellen hinted earlier this week that the central bank may move in December if data showed the economy was strong enough to sustain higher rates.
At 8:50 a.m. ET (1350 GMT), S&P 500 e-minis were down 5.75 points, or 0.27 percent, with 283,051 contracts traded.
Nasdaq 100 e-minis were down 9.5 points, or 0.2 percent, on volume of 38,969 contracts. Dow e-minis were down 36 points, or 0.2 percent, with 29,172 contracts changing hands.
U.S. stocks closed lower on Thursday, weighed down by mixed earnings and a decline in energy stocks.
Nvidia’s shares rose 8.6 percent to $30.10 premarket after the chipmaker’s third-quarter results beat expectations.
TripAdvisor fell 10.1 percent to $74.69 after quarterly results missed estimates.
Youku Tudou rose 10 percent to $26.87 after Alibaba said it would buy the company for $27.60 per ADS, $1 higher than its previous offer. Alibaba was up 0.2 percent.
Weight Watchers rose 19 percent to $20.15 after it raised its 2015 adjusted profit forecast.
ZS Pharma soared 41 percent to $89.18 after AstraZeneca said it would buy the biotech company for $2.7 billion.
Fed Board Governor Lael Brainard is among Fed policymakers scheduled to speak on Friday. Berkshire is scheduled to report results after the close. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Savio D‘Souza)