Market Hustle: Stock Futures Rise as Job Creation Jumps
NEW YORK (TheStreet) -- U.S. stock futures were popping after government jobs data for February jumped more than expected.
- Dow Jones Industrial Average futures were rising 72 points, or 77.11 points above fair value, to 16,487. S&P 500 futures were adding 8 points, or 8.32 points above fair value, to 1,884.25. Nasdaq futures were up 10.8 points, or 12.42 points above fair value, to 3,732.8.
- The U.S. nonfarm payrolls report for February showed a gain of 175,000 jobs, greater than the 149,000 jobs expected by economists. The jobless rate came in at 6.7% compared with expectations of 6.6%.
- January consumer credit numbers will be released at 3 p.m. EST.
- New York Federal Reserve Bank President William Dudley will speak in New York about the economy at noon.
- The markets continued to keep an eye on headlines on Ukraine, as the West and Russia remain at odds over Russia's actions in Crimea, with President Barack Obama and his allies in the EU reportedly working together to impose sanctions as punishment for Russia's moves there.
- The S&P 500 settled at another record high Thursday amid fewer jobless claims, while the European Central Bank's decision to hold rates showed improved regional confidence. On Thursday, the S&P 500 settled at a record for the 50th time in the last 12 months.
- Big Lots (BIG)was surging more than 14.5% after topping fourth-quarter earnings expectations by 5 cents a share at $1.45, and Foot Locker (FL) was popping more than 5% after beating fourth-quarter earnings estimates by 6 cents at 82 cents a share. Same-store sales rose 5.3%.
- In other stock news, Pfizer (PFE)is recalling one lot of 30-count Effexor XR 150 mg extended-release capsules, one lot of 90-count Effexor XR 150 mg extended-release capsules, and one lot of 90-count Greenstone LLC-branded Venlafaxine HCl 150 mg extended-release capsules after a pharmacist reported that one bottle of Pfizer's Effexor XR contained one capsule of Tikosyn 0.25mg.
-- Written by Andrea Tse in New York
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV