Following the market opening Friday, the Dow traded down 0.32
percent to 13,190.51 while the NASDAQ fell 0.13 percent to
3,016.02. The S&P rose, increasing 0.02 percent to
Critical to the presidential election, October's unemployment
figure was reported Friday morning, coming in equal to estimates
at 7.9 percent, which is slightly higher than September's
shocking report of 7.8 percent. The release lead to a drop in
markets across the board, although its effect on the election has
yet to be seen.
Equities Trading UP
Restoration hardware (NYSE:
) shot up 27.92 percent to $30.70 following its IPO this morning
as investors gained confidence in the company's offering.
) also got a big boost, trading up 28.81 percent to $4.96
following a big earnings beat this morning.
Shares of TripAdvisor (NASDAQ:
) rallied as well, rising 20.37 percent to $35.40 after an
earnings beat Thursday and a subsequent rise in price target at
Equities Trading DOWN
The Active Network (NYSE:
) dropped 44.99 percent to $5.11 after reporting disappointing
earnings Thursday, and a slew of analyst downgrades.
Questcor Pharmaceuticals (NASDAQ:
) was also down, falling 8.06 percent to $23.40 after Cerium
Pharmaceuticals receives FDA orphan drug designation Friday
Shares Vertex Pharmaceuticals (NASDAQ:
) fell 12.66 percent to $44.09 following a big earnings miss
Thursday and a subsequent downgrade at Goldman Sachs Friday
In commodity news, oil traded down 0.36 percent to $89.23, while
gold traded down 1.18 percent to $1,695.20.
Silver traded down 0.34 percent Friday to $31.91.
European markets were largely down Friday morning following the
PMI release that reflected a drop in Italian and Spanish
manufacturing in October.
Friday brought another big day of economic releases, starting
with the unemployment figure which came in at 7.9 percent, equal
to the estimates, but slightly higher than September's report of
Manufacturing payrolls came in at 13 thousand, far above the
expected -5 thousand and the previous report of -14 thousand.
Nonfarm payrolls were reported at 184 thousand, well above the
expected 125 thousand and the prior figure of 128 thousand, while
private nonfarm payrolls came in at 171 thousand, beating the
estimates of 125 thousand and the last report of 148
Factory orders were also reported, coming in at 4.8 percent,
above the expected 4.6 percent, and well above the previous
figure of -5.1 percent.
(c) 2012 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.