Stock Futures Climb After Strong Jobs Numbers
NEW YORK ( TheStreet) -- Stock futures were pointing to another day of impressive gains on Wall Street Friday, as investors cheered stronger-than-expected February jobs numbers and a fall in the jobless rate.
Futures for the Dow were rising 67 points, or 86.51 points above fair value, at 14,323. Futures for the S&P 500 were up 6.5 points, or 7.79 points above fair value, at 1544.25. Futures for the Nasdaq were ahead by 11 points, 14.51 points above fair value, at 2806.
The Dow booked a third-consecutive all-time closing high on Thursday.
The Bureau of Labor Statistics reported Friday that nonfarm payrolls increased by 236,000 in February after rising by a downwardly revised 119,000 in January. Expectations were for a rise to 160,000.The unemployment rate edged down to 7.7% in February; economists were expecting the rate to stay at 7.9%. Private nonfarm payrolls rose by 246,000 after increasing by 166,000 jobs in January. Economists were predicting a rise of 167,000. The Census Bureau is forecast to say that wholesale inventories rose 0.2% in January after declining 0.1% in December. The report is due at 10 a.m. Gold for April delivery was rising $2.20 to $1,577.30 an ounce at the Comex division of the New York Mercantile Exchange, while April crude oil futures were up a penny to $91.57 a barrel. The benchmark 10-year Treasury was falling by 3/32, raising the yield to 2.015%. The dollar was up 0.08%, according to the
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