We have updated our privacy policy and terms & conditions. Find out more here.
6
 

U.S. futures higher ahead of jobs data; Dow Jones up 0.38%

By Investing.comStock MarketsMar 08, 2013 01:05PM GMT Add a Comment
 
AA
+
-
Investing.com - U.S. stock futures pointed to a higher open on Friday, supported by upbeat Chinese trade balance data, while markets eyed the release of key U.S. employment data expected later in the day.

Ahead of the open, the Dow Jones Industrial Average futures pointed to a 0.38% increase, S&P 500 futures signaled a 0.30% rise, while the Nasdaq 100 futures indicated a 0.17% gain.

Stocks were boosted after official data showed that China's trade surplus narrowed less-than-expected in February, falling to USD15.3 billion from a surplus of USD29.2 the previous month. Analysts had expected the trade balance to fall into a deficit of USD8.8 billion last month.

Sentiment also improved after the Department of Labor said on Thursday that the number of individuals filing for initial jobless benefits fell by 7,000 to a seasonally adjusted 340,000 last week, compared to expectations for an increase of 8,000 to 355,000.

U.S. futures higher ahead of jobs data; Dow Jones up 0.38%
The upbeat data fuelled optimism over a recovery in the U.S. labor market.

The tech sector was expected to be active, amid reports Google's Motorola Mobility unit is preparing to cut another 1,200 jobs or 10% of its workforce, as the smartphone maker tries to return to profitability.

Google shares were up 0.23% in pre-market trade.

Separately, a judge ruled on Thursday that Apple must show in detail how it’s complying with court orders to turn over evidence in a privacy lawsuit, sending shares in the iPhone maker down 0.09% in early trading.

According to Bloomberg, U.S. Magistrate Judge Paul S. Grewal in San Jose, California, issued the order after the plaintiffs’ lawyers claimed Apple withheld documents it had previously been ordered to produce.

Insurers were also likely to be in focus, after American International Group said it will redeem USD1.1 billion of debentures as the company seeks to reduce debt before reinstating a dividend.

AIG shares edged up 0.21% pre-market.

Elsewhere, Pandora Media soared 26.17% in early trading, after posting stronger-than-expected quarterly results. The company also said CEO Joseph Kennedy is stepping down in a surprise announcement.

Other stocks in focus included Ann Taylor and Foot Locker, due to report earnings later in the day.

Across the Atlantic, European stock markets were higher. The EURO STOXX 50 jumped 0.97%, France’s CAC 40 advanced 0.82%, Germany's DAX climbed 0.59%, while Britain's FTSE 100 added 0.23%.

During the Asian trading session, Hong Kong's Hang Seng Index rallied 1.41%, while Japan’s Nikkei 225 Index surged 2.64%.

Later in the day, the U.S. was publish government data on nonfarm payrolls and the unemployment rate, as well as data on average hourly earnings.


Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Related Articles

Add a Comment

 

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

NQ 100
 
 
 
Are you sure you want to delete this chart?
 
 
 
Are you sure you want to delete this chart?
 
 
 

Successfully Reported

Thank you. This comment has been flagged for a moderator.
_touchLoadingMsg