This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

Stock Futures Gain as Weak Jobs Data Fuels Stimulus Forecasts, Delta Pops

Stocks in this article: ^DJI ^GSPC ^IXIC DD DAL TRV UTX

NEW YORK (TheStreet) -- Stock futures were edging higher Tuesday as investors balanced upbeat earnings from Delta Air Lines (DAL - Get Report) and Travelers Companies (TRV - Get Report) with a worse than expected government job creation report that fueled expectations that the Federal Reserve will delay any tapering until early 2014 at the earliest. Apple (AAPL) shares were also providing a boost, rising ahead of its iPad event in San Francisco.

Futures for the S&P 500 were up 5.75 points, or 4.94 points above fair value, to 1,744. Futures for the Dow Jones Industrial Average were ahead by 52 points, or 40.35 points above fair value, to 15,374. Futures for the Nasdaq were up 13.3 points, or 21.07 points above fair value, to 3,367.3.

Delta Air Lines shares were advancing 3.8% to $25.62 after beating earnings estimates, reducing debt, paying a dividend and buying back shares. The moves were underscoring its commitment to lure investors back to the airline industry.

Travelers Companies was rising 2% to $88.50 after the insurance company exceeded third-quarter earnings expectations by 28 cents at $2.35 a share as underwriting margins strengthened. The company also added $5 billion to its share repurchase program.

Netflix (NFLX) reported third-quarter earnings that beat Wall Street estimates and the streaming video company said it topped 40 million total subscribers.  Shares were jumping 10.99% to $394.

United Technologies (UTX - Get Report), the world's largest maker of elevators and air conditioners, was falling 0.58% to $107, after surpassing third-quarter earnings by a penny at $1.55 a share on worse than expected sales amdi the ongoing weakness in military aerospace markets and slow pace of recovery in Europe. The company is now expecting full year sales of about $63 billion, down from the previous estimate of $64 billion.

duPont (DD - Get Report) shares were edging down 0.15% to $59.37 after the chemicals company posted third-quarter earnings of 45 cents a share, topping expectations by four cents, on revenue that matched estimates. Robust results at the company's divisions that produce solar panel parts and bullet proof vests offset weakness at its Performance Chemicals unit during the quarter.

Apple is holding an iPad event Tuesday in San Francisco at which its expected to refresh the company's second-largest driver of revenue, behind the iPhone. Apple's iPad-centric event could be its most important since the original iPad was announced, according to Cantor Fitzgerald analyst Brian White. Shares were edging up 0.46% to $523.77. Shares were rising 1.12% to $527.19.

The U.S. work force added 148,000 jobs in September, the Labor Department said Tuesday. Meanwhile, the unemployment rate fell to 7.2% from 7.3% the previous month. Economists, on average, were expecting an addition of 180,000 jobs and the unemployment rate is expected to stay at 7.3%, according to a Thomson Reuters poll of economists.

Also expected for Tuesday are August construction spending numbers from the Census Bureau at 10 a.m.. Originally scheduled for October 1, they were also pushed back.

The FTSE in London was up 0.15% and the DAX in Germany was down 0.06%. The Nikkei 225 in Japan finished up 0.13% and the Hong Kong Hang Seng closed down by 0.52%.

December crude oil contracts were down 28 cents to $99.40 a barrel and December gold futures were down $3.70 to $1,312.10 an ounce.

The benchmark 10-year Treasury was surging 20/32, diluting the yield to 2.536%. The dollar was up 0.05% to $79.74 according to the U.S. dollar index.

-- Written by Andrea Tse in New York

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

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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
Try it NOW
Try it NOW
Try it NOW
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!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

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