5 Things You Need to Know Before the Stock Market Opens

Updated from 6:29 a.m. ET with Apple iPad 3 rumors, RF Micro Devices news, Deutsche Bank cutting gold and copper forecast

BOSTON (TheStreet) -- The Labor Department's employment report for December leads your quick fix of company, market, economic and investing news for Friday, Jan. 6.

Friday's 5 Biggest Stories

Don't get too excited about the nonfarm payrolls report after yesterday's blowout ADP employment report. [WSJ]

In the eurozone, the unemployment rate stays at a record 10.3% with more than 16 million people without jobs. [BBC]

In other dour news, Italy's 10-year bond is once again yielding more than 7%. [WSJ]

Meanwhile, Hungary, the new trouble spot of the EU, is trying to accelerate talks and is willing to compromise to land a loan from the IMF. [Bloomberg]

With a new round of worries over Europe comes a new slide in the euro currency, which now trades at a 15-month low against the dollar. [Bloomberg]

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Quote of the Day

"Will 2012 be the end of the euro currency? I seriously don't think so. Its a young currency, its a solid one as well," Christine Lagarde, head of the IMF, said of the euro's chances of survival this year. [Reuters]

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Company News

Rumors abound that Apple(AAPL) will launch the iPad 3 in March with camera upgrades, while the iPad 2 will stick around at lower price points. [iLounge]

Citigroup(C) ends talks to sell its OneMain consumer-lending unit to private-equity buyers. [WSJ]

Alcoa(AA) will bring a miserable start to the earnings reporting season after the company cut global capacity by 12% after a decline in aluminum prices. [FT]

RF Micro Devices(RFMD) warns of a revenue miss due to weak 2G handset demand. [Barron's]

Samsung has a record quarter thanks to its smartphone lineup. [Bloomberg Businessweek]

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Markets

You don't say: George Soros says that if the European Union were to break up, it would be catastrophic to the global financial system. [Business Line]

Despite a miserable performance in 2011 for its flagship fund, Pimco raked in nearly $39 billion in inflows last year. [WSJ]

Deutsche Bank cuts 2012 forecasts for gold and copper. [MarketWatch]

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Investment Strategy

One day after retailers posted same-store sales for December, check out these apparel shops that are hedge fund favorites. [MarketWatch]

What should you make of bullish sentiment we've seen in the new year? [Market Anthropology]

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Odds and Ends

In California, Governor Jerry Brown is looking to increase spending by 7%. His plan: Raise income taxes on those making more than $250,000 a year and increase the sales tax. [Bloomberg]

Happy Friday. Here's a Ryan Adams song to welcome you to the weekend. Have a great one. [YouTube]

-- Written by Robert Holmes in Boston.

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