Stock futures are holding onto early gains following a weaker
than expected jobs report in which September non-farm payrolls rose
by a less than expected 148,000 versus the consensus estimate of a
185,000 gain. Although the jobless rate declined 0.1% to 7.2%, the
overall employment situation will continue to keep the Fed
sidelined in regard to their monthly asset-purchase program which
has been providing ample liquidity to the financial markets.
Also contributing to the bullish environment for equities is the
continued decline in Treasury yields where the 10-year yield is
down another 6 basis points to 2.55%, and cheaper energy prices as
the price of crude oil continues to trade below $100 per
Along with the employment situation, earnings will also hold
center stage with upbeat third quarter results from Netflix (
) and DuPont (
) contributing to this morning's modest gains. Amid the flood of
earnings expected throughout the day today is Amgen (
), Broadcom (
) and Juniper Networks (
-Dow Jones Industrial up 0.31%
-S&P 500 futures up 0.24%
-Nasdaq 100 futures up 0.40%
Nikkei up 0.13%
Hang Seng down 0.52%
Shanghai Composite down 0.83%
FTSE-100 up 0.27%
DAX-30 up 0.08%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: higher
(+) Chip stocks: mixed
(+) Software stocks: higher
(+) Hardware stocks: higher
(+) Internet stocks: higher
(+) Drug stocks: higher
(+) Financial stocks: higher
(+/-) Retail stocks: flat
(+) Industrial stocks: higher
(+) Airlines: higher
(+) Autos higher
PTIE (+24.00%) Pain Therapeutics's partner Pfizer Inc. (PFE)
said it will continue with clinical studies for Remoxy, a pain
reliever for moderate-to-severe pain.
DAL (+3.20%) Reported Q3 adjusted net income of $1.2 billion, or
$1.41 per diluted share, topping the consensus forecast for $1.36
on Capital IQ.
FRX (+2.69%) Reported earnings of $0.36 per share in Q2 2013, up
from $0.15 per share in Q2 2013.
NFLX (+7.80%) Reports Q3 revenue of $1.10 bln, in line with the
analyst consensus on Capital IQ. EPS was $0.52, vs. expectations of
$0.49 per share.
RSH (-4.26%) Q3 loss widened to $112 million, or $1.11 per
diluted share, from a loss of $47 million, or $0.47 per share, in
the year ago period, falling far short of analysts' estimates of a
loss of $0.36 per share
LTBR (-10.32%) Priced a direct sale of 2.5 million units at
$1.75 per unit.
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