Following the market opening Friday, the Dow traded up 0.85
percent to 13,978.24 while the NASDAQ rose 0.55 percent to
3,159.75. The S&P also rose, increasing 0.64 percent to
Top Headline Making headlines Friday morning was the
unemployment figure for the month of January. Coming in at 7.9
percent, it rose from the December report, but only slightly,
giving traders mixed signals about the state of the US economic
Equities Trading UP Zoetis (NYSE:
) made its open market debut with its IPO this morning. Priced at
$26 it immediately spiked into the low $30's as traders jumped on
shares in the open market. The event marked the largest IPO since
Facebook's disastrous debut in 2012, and brings a $15 billion
market cap company to the open markets.
Shares of PMC-Sierra (NASDAQ:
) traded up 14.71 percent to $6.63 Friday after the company
posted a beat on both top and bottom lines this morning and
impressed traders on its conference call.
Rite Aid (NYSE:
) was also up, gaining 5.63 percent to $1.69 after the company
announced a round of debt financing on Thursday.
Equities Trading DOWN Life Time Fitness (NYSE:
) traded down 19.61percent in early trading to $40.78 as the
luxury gym released some weaker than expected guidance in the
pre-market this morning.
) took a hit as well, falling 7.46 to $2.11 after the company
released some poor guidance this morning.
Shares of Emulex (NYSE:
) was also down, giving up 8.90 percent to $6.96 after the
company missed analyst EPS estimates and matched on the top line
Commodities In commodity news, oil traded down 0.83 percent to
$96.68, while gold traded down 0.59 percent to $1,671.80.
Silver traded down 0.40 percent Friday to $31.78.
Eurozone In the Eurozone this morning, markets were higher
across the board except for Spain after a round of upbeat
manufacturing data. On one end of the spectrum, the Spanish Ibex
was down 1.08 percent, while on the other end the French CAC rose
Economics In economic news this morning, Nonfarm payrolls came
in at 157 thousand, lower than the projected 165 thousand and the
prior report of 196 thousand, while private nonfarm payrolls were
reported at 166 thousand, missing expectations of 168 thousand
and the revised previous report of 202 thousand.
Manufacturing payrolls came in at 4 thousand, missing
expectations by a mile which were set at 10 thousand, and
The unemployment rate was reported at 7.9 percent, slightly
higher than the previous report of 7.8 percent.
The University of Michigan consumer confidence index was also
reported, coming in at 73.80, above the projected 71.50 and the
prior release of 71.30.
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