Futures Slightly Lower Ahead of Employment Report
U.S. equity futures declined in early pre-market trade ahead of
the much anticipated Employment Situation Report from the Bureau of
Labor Statistics. The average of economists surveyed by Bloomberg
is expecting 193,000 jobs added, with the most recent changes to
updates averaging closer to 173,000 jobs.
In other news around the markets:
Greece is likely to delay its full Troika report, according to a
Reuters source, meaning that the Eurogroup will be unable to pay
its next bailout tranche next week. Famed investor George Soros
spoke in a CNBC interview overnight on Japan indicating that the
BoJ is taking a massive risk with its new policies and risks an
avalanche decline in the currency. Federal Reserve Vice-Chairman
Janet Yellen spoke overnight and said that she was encouraged by
recent positives in the U.S. economy but reiterated that she sees
no withdrawal of stimulus any time soon. S&P 500 futures
declined 3.8 points to 1,550.80. The EUR/USD was lower at 1.2924
after a wild session Thursday. Spanish 10-year government bond
yields fell to 4.86 percent from 4.91 percent. Italian 10-year
government bond yields fell to 4.48 percent from 4.56 percent. Gold
rose 0.1 percent to $1,551.80.
Asian shares were mixed overnight as Japanese shares continued
to climb for a fourth straight day. The Japanese Nikkei Index rose
1.58 percent while the broader Topix Index gained 2.74 percent and
the Hang Seng Index slipped 2.73 percent in Hong Kong. Also, Korean
shares continued to decline on war tensions as the Kospi declined
1.64 percent and Australian shares fell 0.45 percent.
European shares were mixed overnight as Spanish and Italian
shares rose and other markets fell. The Spanish Ibex Index rose
0.79 percent and the Italian FTSE MIB Index rose 0.76 percent.
Meanwhile, the German DAX fell 0.23 percent and the French CAC fell
0.28 percent while U.K. shares declined 0.62 percent.
Commodities were mostly higher overnight despite slightly weaker
oil prices. WTI Crude futures fell 0.03 percent to $93.14 per
barrel and Brent Crude futures slipped 0.08 percent to $106.20 per
barrel. Copper futures rose 0.51 percent to $336.55 per pound after
taking a beating the last few days. Gold was higher and silver
futures rose 0.63 percent to $26.86 per ounce.
Currency markets showed dollar strength overnight as the yen
halted its decline. The EUR/USD was lower at 1.2924 and the dollar
fell against the yen to 96.23. Overall, the Dollar Index rose 0.06
percent on strength against the euro, the pound, the Swiss franc,
and the Canadian dollar.
Stocks moving in the pre-market included:
) shares rose 0.84 percent pre-market after announcing Facebook
Home for Android. Carnival Corporation (NYSE:
) shares fell 1.51 percent pre-market after a ship docked in
Alabama broke away from the port. Red Hat (NYSE:
) shares fell 0.65 percent pre-market after naming a new head of
virtualization to gain market share in the cloud business. Bank of
) shares gained 0.5 percent pre-market after announcing 469 job
Notable companies expected to report earnings Friday
Penford Corporation (NASDAQ:
) is expected to report fourth quarter EPS of $0.14 vs. a loss of
$0.03 per share a year ago.
On the economics calendar Friday, the Employment Situation
Report is due out and economists are looking for Non-Farm Payrolls
of 190,000 with Private Payrolls adding 200,000 jobs and the
unemployment rate remaining flat at 7.7 percent. Also, the U.S.
Treasury is due out and the ECRI Weekly Index will also be
Good luck and good trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
Profit with More New & Research
. Gain access to a streaming platform with all the information you
need to invest better today.
Click here to start your 14 Day Trial of Benzinga