Active broad-market exchange-traded funds ahead of Friday's regular session:
SPDR S&P 500 ( SPY ): -0.2%
iShares MSCI Emerging Index Fund ( EEM ): -0.3%
SPDR Select Sector Fund - Financial ( XLF ): -0.4%
iPath S&P 500 VIX Short-Term Futures ETN ( VXX ): -0.1%
Invesco QQQ Trust, Series 1 ( QQQ ): -0.4%
Broad Market Indicators
Broad-market exchange-traded funds, including IWM and IVV were lower. Actively traded PowerShares QQQ ( QQQ ) was down 0.4%.
US stock futures were pointing to a lower open, as Wall Street digested the Employment Situation report for November, which showed that the US created 155,000 new jobs, versus the consensus for 190,000. This was down from 237,000 in the prior month, which was revised down from the initial report of 250,000.
The unemployment rate remained at 3.7% -- a 49-year low, matching expectations. Average hourly earnings rose 0.2% to $27.35 an hour; the 12-month rate of hourly wage gains was unchanged at 3.1%. Hours worked each week were down 0.1 hour to 34.4 hours.
Also on tap, the consumer sentiment report for December will be published at 10:00 am ET. The consensus is for 97.4, while it was 97.5 in November.
The wholesale trade report for October will be released at 10:00 am ET. The consensus is for 0.7%, up from 0.4% in the prior month.
Power Play: Consumer
Consumer Staples Select Sector SPDR (XLP) and Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones U.S. Consumer Goods (IYK) were inactive.
Consumer Discretionary Select Sector SPDR (XLY) and retail funds SPDR S&P Retail (XRT) and Market Vectors Retail ETF (RTH) were also quiet in pre-market trade.
Big Lots (BIG) sank nearly 16% after it reported a fiscal Q3 loss of $0.16 per share, wider than the loss of $0.06 in the comparable period a year ago. Analysts polled by CapIQ expected earnings to break even. The discount retailer's total revenue for the quarter ended Nov. 3 was $1.15 billion, up from $1.11 billion a year ago, exceeding the Street projection of $1.14 billion. Q3 same-store sales increased 3.4%. The company cut its Q4 EPS guidance to a range of $2.20 to $2.40 per share, from a prior range of $2.90 to $3.00. The new guidance misses the Street projection of $2.94. Big Lots also lowered its Q4 expectation on comparable sales to a range of flat to an increase of 2%. It previously expected a low single digit increase. For full-year 2018, the company lowered its EPS guidance to a range of $3.55 to $3.75 per share, from a prior range of $4.40 to $4.55 per share. The new guidance falls short of the Street estimate of $4.46. Big Lots affirmed guidance for a fiscal 2018 comparable store sales increase of approximately 1%. The company maintained its quarterly dividend of $0.30 per share, payable Dec. 28 to shareholders of record as of Dec. 14.
Winners and Losers
The Select Financial Sector SPDRs ( XLF ) was down 0.4% in pre-market trade. Direxion Daily Financial Bull 3X shares (FAS) was down 2% and its bearish counterpart Direxion Daily Financial Bear 3X shares (FAZ) was up 1.4%.
Jupai Holdings (JP) fell nearly 23% after the provider of wealth management services reported Friday Q3 non-GAAP net income was RMB25.5 million ($3.7 million), a 79.8% decrease from the corresponding period in 2017. Revenues fell by 29.5% year-over-year to RMB310.6 million. For the company's outlook, CEO Jianda Ni said: "Looking ahead, in order to build a healthy long-term growth rate, we will put more effort into the development of proactively managed funds, further diversify the industries underlying our products, and continue to enhance the quality of our AUM, so as to create room for further growth in recurring management fees and performance fees."
Technology Select Sector SPDR ETF (XLK) and other tech funds iShares Dow Jones US Technology ETF (IYW) and iShares S&P North American Technology ETF (IGM) were inactive.
Among semiconductor ETFs, SPDR S&P Semiconductor (XSD) and Semiconductor Sector Index Fund (SOXX) were both flat.
Comtech Telecommunications (CMTL) rose more than 12% after it reported late Thursday diluted EPS of $0.14 in Q1, beating analysts' estimates of a GAAP net loss of $0.06 per share in a Capital IQ poll, and reversing from a net loss of $0.07 per share. Excluding items, non-GAAP earnings for the quarter would have been $0.22 per share, vs. expectations of a loss of $0.07 per share. Revenue rose to $160.84 million from $121.57 million a year ago, cruising past the $129.3 million estimate. The company also said that during Q2 of fiscal 2019, its subsidiary, Comtech EF Data Corp., has received an additional $9.8 million delivery order against the $59.0 million contract previously awarded by the U.S. Naval Warfare Systems Command. Separately, the firm has also filed for a $400 million mixed shelf, including common and preferred stocks, debt securities and warrants, a regulatory filing showed.
Dow Jones US Energy Fund (IYE) was quiet and Energy Select Sector SPDR (XLE) was down 0.02% in pre-market trade.
Cimarex Energy (XEC) rose 0.5% after it said late Thursday that the board has approved a quarterly dividend of $0.18 per common share, unchanged from the previous payout. The dividend will be paid on March 1 to stockholders of record on Feb. 15.
Crude was up 4%. United States Oil Fund (USO) was up 1.2%. Natural gas was up 0.2% while United States Natural Gas Fund (UNG) was up 0.3%.
Gold was up 0.2%. SPDR Gold Trust (GLD) was up 0.1%. Silver was up 0.4%, while iShares Silver Trust (SLV) was down 0.1%.
Health Care SPDR (XLV) was down 0.4% and other health care funds including Vanguard Health Care ETF (VHT) and iShares Dow Jones U.S. Healthcare (IYH) were quiet. Biotechnology fund iShares NASDAQ Biotechnology Index (IBB) was inactive.
Viveve Medical (VIVE) shares fell more than 16% after the medical technology company said late Thursday it priced its underwritten public offering of 13.3 million shares for total gross proceeds of $20 million. The shares were priced at $1.50 each, or a 19% discount from the stock's previous close at $1.86. The underwriters have been granted a 30-day option to purchase up to an additional 2 million shares of common stock. Viveve, which is focused on women's health, plans to use the net proceeds to support its commercialization and regulatory activities and for general corporate and working capital purposes. The offering is expected to close on or about Dec. 11, subject to customary closing conditions.