The Jobs Report: Market Happenings For Friday, January 04, 2013

Premarket, futures are up. Gainers this morning include AVP (+2.63%), LLY, AMD, AKAM and EBAY while losers include FSLR (-5.41%), NFLX, MU, DELL and HAS

The Market

U.S. employers added 155,000 jobs in December, and the unemployment rate held at 7.8 percent. November’s rate was revised higher from an initially reported 7.7 percent.

Robust hiring in manufacturing and construction fueled the December gains. Construction firms added 30,000 jobs, the most in 15 months and Manufacturers gained 25,000, the most in nine months.

The yield on the 10-year Treasury has been steadily climbing closer to 2%, a level not seen since April of last year. It’s currently trading at 1.97%.

European markets are mostly higher and Asian markets ended mixed.

The national average price of gasoline is up three-tenths of a cent to $3.295 per gallon.

Earnings Reports

Earnings reports (estimates): MOS-Mosaic ($0.88), FINL-Finish Line ($0.102).

Financial Calendar

0830 ET Dec nonfarm payrolls expected +150,000, Nov +146,000. Dec private payrolls expected +153,000, Nov +147,000. Dec mfg payrolls expected +4,000, Nov -7,000. Dec unemployment rate expected unch at 7.7%, Nov was -0.2 to 7.7%.

0830 ET Dec avg hourly earnings expected +0.2% m/m and +1.7% y/y, Nov +0.2% m/m and +1.7% y/y. Dec avg weekly hours expected unch at 34.4 hours, Nov 34.4 hours.

0830 ET USDA weekly Export Sales.

1000 ET Nov factory orders expected +0.4% m/m, Oct +0.8% m/m.

1000 ET Dec ISM non-manufacturing index expected -0.7 to 54.0, Nov +0.5 to 54.7.

1315 ET Philadelphia Fed President Charles Plosser speaks on panel on “Real Business Cycle After Three Decades: Past, Present and Future” at the American Economic Association’s conference in San Diego.

1330 ET Richmond Fed President Jeffrey Lacker delivers speech on the economic outlook at Maryland Bankers Association in Baltimore.

1530 ET Fed Vice Chairman Janet Yellen speaks on “Financial System Interconnectedness and Systemic Risk: Lessons from the Crisis and Policy Implications” at American Economic Association conference in San Diego.

1730 ET St. Louis Fed President James Bullard speaks at NABE panel “Federal Reserve Independence in the Aftermath of the Financial Crisis: Should We Be Worried?”

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