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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Preview: Back on the Job

Stocks in this article: SBUX PCLN ^DJI ^IXIC ^GSPC

NEW YORK ( TheStreet) -- Wall Street roared on Thursday, answering the distant hum of thousands of generators across the tri-state area with a resounding rally.

Whether those gains last through the weekend depends on the October employment situation report, which is due at 8:30 a.m. ET. The consensus is for nonfarm payrolls to swell by 125,000, according to with the unemployment rate ticking up to 7.9%.

While Thursday's jobs-related data was mostly positive, there was some skepticism creeping in ahead of Friday's official report.

"Thus far in October initial jobless claims have averaged 367,000, which is lower than the 376,000 average reported for September and suggests some slowing in the pace of job losses early in the fourth quarter," said RDQ Economics in emailed commentary earlier on Thursday. "We suspect, however, that hiring remained lackluster in October given concerns about looming tax hikes in 2013 and we look for nonfarm payrolls to have risen only 100,000 in October."

High Frequency Economics is right in line with the consensus, while Capital Economics is also at 125,000 but expects the unemployment rate to hold steady at 7.8%.

As for Friday's scheduled corporate news, Chevron (CVX) is slated to report its third-quarter results after the closing bell. The average estimate of analysts polled by Thomson Reuters is for a profit of $2.83 a share on revenue of $64.1 billion in the September-ended period.

Other companies slated to deliver their numbers include Alcatel-Lucent (ALU), Berkshire Hathaway (BRK.B), Cooper Tire & Rubber (CTB), Dendreon (DNDN), Gartner (IT), Harman International (HAR), Hunt Corp. (HUN), Madison Square Garden (MSG), Progressive Corp. (PGR), Sealed Air (SEE), Warner Chilcott (WCRX), Washington Post (WPO).

The only other piece of economic data is factory orders at 10 a.m. ET with the consensus calling for an increase of 4.5%.

And finally, the earnings news after Thursday's closing bell was pretty positive with both Starbucks (SBUX) and (PCLN) surging in the after-hours session following their better-than-anticipated quarterly reports.

Starbucks' shares were up more than 6% after the coffee giant beat Wall Street's earnings view by a penny, hiked its fiscal 2013 forecast, outlined ambitious growth plans and lifted its quarterly dividend by more than 20%. Priceline's stock was jumping more than 9% after its own above-consensus quarter that featured a 25.2% jump in gross bookings to $7.8 billion.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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