Stock Futures Mixed After Jobs Report

NEW YORK (TheStreet) -- Stock futures were trading mixed after Friday's nonfarm payrolls report from the Labor Department.

Futures for the Dow Jones Industrial Average were up 6 points, or 2.6 points below fair value, at 13,149. Futures for the S&P 500 were up 1.1 points, or 0.8 points below fair value, at 1387, and futures for the Nasdaq were up 2.8 points, or 6.4 points below fair value, at 2695.

The Labor Department reported a disappointing nonfarm payrolls number for April. Nonfarm payroll employment rose by 115,000 in April, falling short of the 170,000 jobs economists polled by Thomson Reuters were expecting. However, the March figure was upwardly revised to 154,000.

Also, the unemployment rate fell slightly. Economists expected it to remain at 8.2%, but it came in at 8.1%.

In April, average hourly earnings for all employees on private nonfarm payrolls rose by 1 cent to $23.38, the Labor Department said. Over the past year, average hourly earnings have increased by 1.8%.

Data showing a steep decline in European business activity and key elections in France and Greece was also causing some nervousness on Friday.

In Europe, the reading for the Markit Eurozone Composite Purchasing Managers Index came in at 46.7 for April, down from 49.1 in March. It was the fastest rate of decline since last October and one of the steepest contractions since mid-2009. The headline index also came in well below its earlier flash estimate of 47.4.

"Deeper downturns in output were signaled in both the manufacturing and service sectors, as the rates of contraction accelerated in both cases," Markit said in a press release. "Both sectors were hit by marked declines in new business. Manufacturers were also hurt by lower levels of new export orders, with trade between Eurozone nations especially weak."

In Europe, London's FTSE was falling 0.8% and the Dax in Germany was down 0.6%. Nervousness is growing ahead of France's presidential election and Greece's parliamentary election on Sunday, with worries that the outcome could add to eurozone risk.

The Hang Seng Index in Hong Kong finished down 0.8%. The Japanese market is closed for a national holiday.

In corporate news, Duke Energy (DUK) reported first-quarter earnings Friday of $295 million, or 22 cents a share, down from year-earlier earnings of $511 million, or 38 cents. Adjusted earnings for the latest quarter were 38 cents a share. Analysts expected a profit of 36 cents a share on revenue of $3.62 billion.

Estee Lauder (EL) reported Friday third-quarter earnings of $130.4 million, or 33 cents a share, up from year-earlier earnings of $124.7 million, or 31. Analysts anticipated the company earning 33 cents a share in the period.

LinkedIn (LNKD), the business social networking company , topped Wall Street's expectations for its first quarter.

The company also gave a bullish forecast for the current quarter and said it has agreed to acquire privately held SlideShare, a service that allows professionals to share presentations, for $118.75 million in cash and stock.

American International Group (AIG) reported after-tax operating income of $3.1 billion, or $1.65 a share, as sales of once-toxic subprime assets and a rebound of its property-casualty unit lifted profitability.

Analysts were looking for AIG to earn $1.12 a share compared with $1.30 a share a year earlier.

Chesapeake Energy (CHK) and its CEO Aubrey McClendon noted Thursday that they are under an informal query by the Securities and Exchange Commission.

"The SEC noted in its request, which was received yesterday, that its inquiry should not be construed as an indication that any violation of the federal securities laws has occurred," Chesapeake Energy said in a statement Thursday. "The company and Mr. McClendon intend to cooperate with the SEC in responding to its inquiry."

In commodity markets, the June crude oil contract was off $1.18 to trade at $101.36 a barrel. June gold futures were falling $4.30 to $1,630.50 an ounce.

The benchmark 10-year Treasury was off by 2/32, lifting the yield to 1.9%. The dollar was up 0.1%, according to the dollar index.

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-- Written by Andrea Tse in New York.



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