NEW YORK ( TheStreet) -- Stock futures were falling Friday on signs of a sharp slowdown in the U.S. labor market.
Futures for the S&P 500 were down 9.25 points, or 8.78 points below fair value, to 1,545.25. Futures for the Dow Jones Industrial Average were falling 81 points, or 81.11 points below fair value, to 14,450. Futures for the Nasdaq were off 18.75 points, or 22.27 points below fair value, to 2,766.25.
The Bureau of Labor Statistics reported the U.S. added just 88,000 jobs in March, a sharp slowdown from an upwardly revised 268,000 jobs in February. The jobless rate fell to 7.6% from 7.7%. Economists, on average, estimated that 200,000 jobs would be added to nonfarm payrolls and the unemployment rate would remain at 7.7%.
The ADP National Employment Report on Wednesday showed that private employers added less jobs in March than expected and the employment index component of the March ISM Non-manufacturing report reinforced concerns about the labor market.Market participants continued to keep their eye on the nuclear and military threats from North Korea after the country reportedly moved an intermediate-range missile to its east coast. They are also gearing up for first-quarter earnings, which will be kicked off by Alcoa (AA) next Monday after the markets close. U.S. stocks rose Thursday as signs of a fragile labor market in the Labor Department's weekly jobless claims report and outplacement firm Challenger Gray & Christmas' job cuts report were overshadowed by Japan's bold moves to stimulate its sluggish economy and signals that European policymakers may take similar steps. The dollar was rising 0.04% to $82.709 according to the
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV