No single economic report gets more attention than the monthly
non-farm payrolls report. Today at 8:30 am ET, that report hits the
Investors usually sit on their hands prior to the release of the
report but this morning, the markets are up. Dow futures imply a
51-point upside move at the open and the S&P 500 would likely
move six points higher. This, after a flat day filled with
Yesterday, the Dow was essentially flat closing 18 points lower
at 16,444.76. The S&P ended the day nearly where it started at
1,838.13, and the NASDAQ gained 0.2 percent to close at
Shares of Sears Holdings (NASDAQ:
) plunged more than 14 percent after it revealed that comp. store
sales were down 9.2 percent during the key holiday season. T-Mobile
) announced a credit program of up to $350 to cover termination
fees for users who want to ditch their current providers. Worldwide
PC shipments fell another 10 percent year-over-year last year.
Asian markets ended the day mixed after weak China trade data
spooked investors. The Nikkei was up nearly 0.2 percent to end the
day at 15,912.06
The Shanghai composite was down about 0.7 percent to close at
2013.30 and the Hang Seng, up about 0.3 percent to close at
Europe is higher as investors wait for U.S. economic data. The
FTSE is up about 0.8 percent and the CAC is up about 0.5 percent.
The DAX is up about 0.6 percent.
Commodities are mostly higher across the board this morning. WTI
is up more than one percent at $92.59 while Brent is about 0.5
percent higher to $106.95. Natural gas is up about one-half of a
percent at $4.02.
Gold and silver are trading up about 0.4 percent at $1,232.80
and $19.76 per ounce respectively and copper is up nearly 0.4
percent at $3.31.
Major currency pairs are trading nearly at parity this morning.
The Euro is flat against the dollar at 1.359, the USD is 0.1
percent higher against the yen at 104.97 and the Aussie dollar is
flat against the U.S. dollar at 0.907.
Pacific Sunwear (NASDAQ:
) is down more than 13 percent after lowering its outlook following
a disappointing holiday season. Five Below (NASDAQ:
) is down 14 percent. The retailer also cut its outlook after a
disappointing holiday season. Abercrombie & Fitch (NYSE:
) is up 14 percent after raising its profit forecast.
) reported EPS of $0.04, below the consensus estimate of $0.06.
Revenue of $5.6 billion came in ahead of consensus of $5.43
billion. There are no earnings announcements scheduled for today.
Today, the monthly non-farm payrolls report reaches the market
at 8:30 am ET this morning. Fed governor James Bullard speaks at
1:05 pm ET.
(c) 2014 Benzinga.com. Benzinga does not provide investment
advice. All rights reserved.
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