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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 - Get Report)was surging more than 14.5% after topping fourth-quarter earnings expectations by 5 cents a share at $1.45, and Foot Locker (FL - Get Report) 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 - Get Report)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.

Unemployment Rate Rises as Economy Adds More Jobs Than Forecast
Labor Participation Rate Unchanged as Payrolls Jump Higher

-- Written by Andrea Tse in New York

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