Market Happenings for Friday, February 03, 2012

Pre-market, futures are up as the Jobs numbers surprise, adding 243,000 jobs in January, pushing unemployment down to 8.3%. Gainers this morning include PKI, GNW, GILD, WY and SUN while losers include EW, WYNN, IP, CBG and LEG.

The Market

Employers went on a hiring spree in January and knocked down the unemployment rate for a fifth straight month to 8.3 percent, its lowest level in almost three years. Employers have added an average of 201,000 jobs per month in the past three months which is 50,000 more jobs per month than the economy averaged in each month last year.

European stocks were higher in midday trading and Asian markets ended mixed.

The dollar was down against the euro and the British pound, but rose versus the Japanese yen.

Oil for March delivery was up 59 cents to $96.94 a barrel.

Gold futures for April delivery was down $8.40 to $1,750.90 an ounce.

The price on the benchmark 10-year U.S. Treasury fell, moving the yield up to 1.83% from 1.82% late Thursday.

Are you ready for the Super Bowl, Madonna half-time show and Goddady ads?

Earnings Reports

Earnings reports (confirmed releases): SPG-Simon Property Group (earnings consensus $0.86), SCCO-Southern Copper (0.63), EL-Estee Lauder (1.01), NLY-Annaly Capital Management (0.56), AON-AON Corp. (0.96), WY-Weyerhaeuser (0.06), CLX-Clorox (0.69), BEAM-Beam (0.67), CEG-Constellation Energy Group (0.62), MAC-Macerich (0.29), TSN-Tyson Foods (0.34), TRIP-TripAdvisor (0.38), UFS-Domtar (2.25), WTM-White Mountains Insurance Group (3.40), BRO-Brown & Brown (0.23).

Financial Calendar

0830 ET Jan non-farm payrolls expected +145,000, Dec +200,000. Jan private payrolls (ex-government) expected +165,000, Dec +212,000. Jan unemployment rate expected unchanged at 8.5%, Dec -0.2 to 8.5%. Jan manufacturing payrolls expected +13,000, Dec +23,000. Jan avg hourly earnings all employees expected +0.2% m/m and +1.9% y/y, Dec +0.2% m/m and +2.1% y/y. Jan avg weekly hours all employees expected no change at 34.4 hours, Dec +0.1 to 34.4 hours.

1000 ET Jan ISM non-manufacturing index expected +0.6 to 53.2, Dec +0.6 to 52.6.

1000 ET Dec factory orders expected +1.5%, Nov +1.8%.

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