This Day On The Street
Continue to site
ADVERTISEMENT
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

US Futures Rise Sharply Ahead Of Jobs Report

NEW YORK (AP) â¿¿ U.S. stock futures rose sharply and the Dow Jones industrial average is likely to push higher into record territory Friday after the government released surprisingly strong jobs numbers and said that the unemployment rate dipped to a four-year low.

Dow Jones industrial futures gained 80 points to 14,336.60. S&P futures rose 6.4 points to 1,544.10. Nasdaq futures tacked on 10.75 points to 2,805.75.

Employers added 236,000 jobs last month, far exceeding economist predictions. The unemployment rate broke out of a stubborn range of 7.8 percent or above since September, falling to 7.7 percent.

There are still millions of unemployed Americans and on Friday, Google announced an additional 1,200 job cuts at its Motorola division. That is on top of the 4,000 job cuts announced last summer.

Also on Friday McDonald's reported that comparable-store sales slumped again as it wrestles with economic strains in countries worldwide.

Sales at U.S. stores open at least a year dropped 3.3 percent, but the figure would have been flat if the impact of an extra day is excluded. Investors are paying close attention to those domestic sales for evidence that the payroll tax, which jumped in January, is cooling the desire of U.S. consumers to spend. Americans are also absorbing higher gas prices and a delay in federal tax returns.

But the unemployment report Friday backed up market optimism after the Labor Department released weekly unemployment claims numbers on Thursday, pushing the Dow to new highs.

The Commerce Department reports wholesale inventories later in the day. Economists expect activity will resume strongly this year.

The Commerce report is due at 10 a.m. Eastern.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
Only $9.95
14-Days Free
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
SYM TRADE IT LAST %CHG

Markets

DOW 18,040.37 +29.69 0.16%
S&P 500 2,111.73 +4.34 0.21%
NASDAQ 5,082.9290 +12.9030 0.25%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs