This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

World Stocks Mixed Ahead of U.S. Jobs Data

LONDON -- Investors were cautious on Friday ahead of U.S. jobs figures, with stocks down slightly after enjoying a couple of bumper days on hopes of a Europe-wide plan to fix the banking sector.

After a week of wild gyrations stemming from Europe's debt crisis, investors are turning their attention to the U.S. government's jobs report for September -- the payrolls data often set the market tone for a week or two after their release.

Following last month's unexpectedly flat outcome and a raft of better than anticipated economic data, hopes are that the U.S. economy generated around 60,000 jobs during September, though some in the markets think it could be double that. That's still low and not enough to get the unemployment rate down from the 9.1% level.

"Modest job gains will do little to alleviate concerns about the pace of recovery, however, with the risk of recession remaining all too real," said Mitul Kotecha, an analyst at Credit Agricole.

Those concerns have dominated European trading following two big days of gains. Earlier, Asian shares advanced following the previous day's continuing advance.

Germany's DAX was down 0.2% at 5,631 while the CAC-40 in France fell 0.5% to 3,062. The FTSE 100 index of leading British shares was 0.4% lower at 5,272, with Lloyds Banking Group (LYG) and Royal Bank of Scotland (RBS) underperforming in the wake of a downgrade of their credit ratings from Moody's.

Wall Street was poised for a modestly lower opening, too -- Dow futures fell 0.3% to 11,015 while the broader Standard & Poor's 500 futures fell the same rate to 1,154.

Trading in currency markets was also subdued ahead of the figures, with the euro unchanged at $1.3426 and the dollar flat at 76.77 yen.

Beyond the U.S. figures, investors will continue to digest developments in Europe's debt crisis. Over the past couple of days, there have been mounting hopes that European policymakers are preparing a plan to shore up the banking sector in the event of a Greek debt default.

Thursday's decisions by the Bank of England to launch new monetary stimulus and a big liquidity operation from the European Central Bank have also helped support investor sentiment.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%
YHOO $45.10 0.00%


DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs