Futures Rise Alongside Job Growth
NEW YORK ( TheStreet) -- Stock futures were pointing to a stronger open Friday as the economy added 216,000 jobs in March.
Futures for the Dow Jones Industrial Average were up by 67 points, or 64 points above fair value, at 12,319. Futures for the S&P 500 were higher by 7 points, or 7 points above fair value, at 1328, and Nasdaq futures were ahead by 13 points, or 12 points above fair value.
Stocks saw a flat close Thursday as investors refrained from making any big moves ahead of the March jobs report on Friday.The Labor Department said the U.S. economy added 216,000 jobs in March, surpassing the job growth of 185,000 that economists had been expecting, according to Briefing.com. That compares with February's gains of 194,000. Private payrolls also came in better-than-expected, rising by 230,000 after adding 240,000 in the prior month. Economists had only been expecting private payroll gains of 203,000. The unemployment rate fell to 8.8%, even though Wall Street expected it to hold steady at 8.9%. The average workweek remained at 34.3 hours, as expected, and hourly earnings showed no change despite forecasts for an uptick of 0.2%.
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