U.S. Stock Futures Rally On Payroll Report Impact on Fed Policy

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U.S. stock futures were significantly higher into Monday's open with Wall Street encouraged by the September jobs report in which an anemic 142,000 increase in non-farm payrolls will likely prevent the Federal Reserve from raising U.S. interest rates. Although the upside has been stifled by concerns surrounding third quarter corporate earnings, the Dow Jones Industrial Average is expected to open with a triple-digit gain.

Overseas markets were also adding to the buoyant tone on Wall Street with EU-zone bourses higher on bearish non-manufacturing data, and a rebound in commodity-based equities.

In corporate news, American Apparel ( APP ) filed for Chapter 11 bankruptcy protection, Twitter ( TWTR ) made Jack Dorsey's CEO appointment official, and Potash ( POT ) abandoned its bid for German competitor K+S Aktiengesellschaft.

Monday's economic data includes the final September Purchasing Manager's Index for the services industry (expected 55.8 from 56.1), the Institute for Supply Management non-manufacturing index for September (expected 58.0 from 59.0) and the Labor Market Conditions Index (expected 2.0 from 2.1).

-Dow Jones Industrial up 0.67%

-S&P 500 futures up 0.72%

-Nasdaq 100 futures up 9.59


Nikkei up 1.58%

Hang Seng up 1.62%

Shanghai Composite closed

FTSE-100 up 2.15%

DAX-30 up 2.46%


(+) Large cap tech: Higher

(+/-) Chip stocks: Mixed

(+) Software stocks: Higher

(+) Hardware stocks: Higher

(+) Internet stocks: Higher

(+) Drug stocks: Higher

(+) Financial stocks: Higher

(+/-) Retail stocks: Mixed

(+) Industrial stocks: Higher

(+) Airlines: Higher

(+) Autos: Higher


(+) ONCE (-52.93%) Phase 3 trial of SPK-RPE65

(+) FOLD (+13.16%) Upgraded at Chardan Capital to buy from neutral

(+) ANIP (+9.47%) Authorized $25 million stock repurchase program

(+) BSX (+3.43%) Received FDA approval for Synergy Bioabsorbable Polymer Drug-Eluting system


(-) APP (-24.31%) Filed for Chapter 11 bankruptcy protection

(-) FEYE (-4.11%) Partnership with F5 Networks ( FFIV ) to deliver integrated security solutions

(-) AMAT (-1.87%) Downgraded at RBC Capital to underperform from sector perform, PT cut by $4

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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