Futures Trend Higher As Upbeat Jobs Report Continues to Fuel Gains

Stock futures were building on Friday's gains after an upbeat labor market report raised investors' tolerance for risk, and ahead of the Federal Reserve's final policy meeting for the year. And although futures briefly lost altitude after reports of a bombing in New York City, Dow futures were still indicated to open near the recent record close.

Overseas markets were also trending higher, building on Friday's momentum with the news flow generally focused on Bitcoin and the upcoming policy meetings at the Fed, Bank of England and European Central Bank. Of the three, only the Fed is expected to make any changes to interest rates, though the other two could signal their intention to shift away from an accommodative policy.

On the calendar for Monday is the October job opening and labor turnover survey at 10am ET, expected to indicate a very slight increase from September. Also, the Treasury will auction 3-month and 6-month bills, along with 3-year and 10-year notes for a total of more than $120 billion in new securities.

In related markets, gold is trading marginally higher, oil is trading higher for a third straight day while Treasury yields are lower across the yield curve and the dollar is unchanged against the yen and euro.

-Dow Jones Industrial up 0.16%

-S&P 500 futures up 0.05%

-Nasdaq 100 futures up 0.09%


Nikkei up 0.56%

Hang Seng up 1.14%

Shanghai Composite up 0.98%

FTSE-100 up 0.47%

DAX-30 up 0.01%


(+/-) Large cap tech: Higher

(+/-) Chip stocks: Higher

(+/-) Software stocks: Higher

(+/-) Hardware stocks: Higher

(+/-) Internet stocks: Higher

(+/-) Oil stocks: Higher

(+/-) Biotech stocks: Higher

(+/-) Drug stocks: Higher

(+/-) Financial stocks: Higher

(+/-) Retail stocks: Higher

(+/-) Industrial stocks: Higher

(+/-) Airlines: Higher

(+/-) Autos: Higher


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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