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
TheStreet Open House

Stock Futures Fall As Job Creation Much Less Than Expected

Stocks in this article: ^DJI^GSPC^IXICKMBJCPFFIVHPQ

NEW YORK ( TheStreet) -- Stock futures were falling Friday on signs of a sharp slowdown in the U.S. labor market.

Futures for the S&P 500 were down 9.25 points, or 8.78 points below fair value, to 1,545.25. Futures for the Dow Jones Industrial Average were falling 81 points, or 81.11 points below fair value, to 14,450. Futures for the Nasdaq were off 18.75 points, or 22.27 points below fair value, to 2,766.25.

The Bureau of Labor Statistics reported the U.S. added just 88,000 jobs in March, a sharp slowdown from an upwardly revised 268,000 jobs in February. The jobless rate fell to 7.6% from 7.7%. Economists, on average, estimated that 200,000 jobs would be added to nonfarm payrolls and the unemployment rate would remain at 7.7%.

The ADP National Employment Report on Wednesday showed that private employers added less jobs in March than expected and the employment index component of the March ISM Non-manufacturing report reinforced concerns about the labor market.

Market participants continued to keep their eye on the nuclear and military threats from North Korea after the country reportedly moved an intermediate-range missile to its east coast.

They are also gearing up for first-quarter earnings, which will be kicked off by Alcoa (AA) next Monday after the markets close.

U.S. stocks rose Thursday as signs of a fragile labor market in the Labor Department's weekly jobless claims report and outplacement firm Challenger Gray & Christmas' job cuts report were overshadowed by Japan's bold moves to stimulate its sluggish economy and signals that European policymakers may take similar steps.

The dollar was rising 0.04% to $82.709 according to the U.S. dollar index. The benchmark 10-year Treasury fell 1/32, raising the yield to 1.77%.

May crude oil futures were down 27 cents to $92.99 a barrel on the New York Mercantile Exchange.

F5 Networks (FFIV) shares were plunging 17.44% to $74.65 in premarket trading after the network gear maker on Thursday predicted much worse-than-expected second-quarter results after suffering the impact of U.S. federal budget cuts and a delay in orders in North America.

Hewlett-Packard (HPQ) shares were down 0.45% to $21.92 as Chairman Ray Lane stepped down from the PC maker, after stockholders sought his ouster following several hiccups by the board, including the acquisition of software company Autonomy.

J.C. Penney (JCP) debuts the first of its new home goods sections on Friday in 500 of its 1,100 stores.

The plan is the latest move by CEO Ron Johnson to boost sales at the struggling department store chain. The home goods sections feature 20 boutiques that highlight 50 new brands.

Shares were falling 1.86% to $14.80.

Kimberly Clark (KMB) was falling 1.02% to $97.47 after the consumer products stock was downgraded to "underperform" from "market perform" at BMO Capital.

Written by Andrea Tse in New York

>To contact the writer of this article, click here: Andrea Tse.

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,380.41 +263.17 1.63%
S&P 500 1,886.76 +24.00 1.29%
NASDAQ 4,258.4380 +41.0480 0.97%

Brokerage Partners

Rates from Bankrate.com

  • 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