U.S. Stocks Cling to Positive Footing Following Latest Jobs Data
U.S. stocks are slightly higher ahead of the opening bell, after the latest jobs data was a slight disappointment. According to the Labor Department, the U.S. economy added 162,000 jobs in June versus the 180,000 economists polled by MarketWatch were expecting. On a positive note, the unemployment rate fell to 7.4%
Other data released pre-bell by the Consumer Department showed that consumer spending outpaced income growth in June. Consumer spending rose 0.5% in June, in line with expectations. Personal income rose 0.3%, below economists' forecasts of a 0.5% gain. Excluding inflation, real disposable incomes fell 0.1% in June after rising 0.2% in May.
Also on today's calendar, at 10 a.m., the Census Bureau will publish data on factory orders.
Commodities are mostly lower in the pre-bell session. Gold futures are down 1.85% while oil futures are down 0.21%.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial up 0.11%
-S&P 500 futures up 0.14%
-Nasdaq 100 futures up 0.31%
-Nasdaq-100 Pre-Market Indicator up 0.13%%
Nikkei up 3.29%
Hang Seng up 0.46%
Shanghai Composite up 0.02%
FTSE-100 down 0.31%
DAX-30 up 0.05%
PRE-MARKET SECTOR WATCH
(+) Large cap tech: higher
(+) Chip stocks: higher
(+) Software stocks: higher
(+) Hardware stocks: higher
(+) Internet stocks: higher
(+/-) Drug stocks: even
(+/-) Financial stocks: mixed
(+/-) Retail stocks: even
(+/-) Industrial stocks: higher
(+/-) Airlines: even
(+/-) Autos: mixed
(+) ALSK, (+32.92%) Reverses Year-Ago Net Loss; Q2 Revenue Tops Estimates
(+) MELI, (+14.02%) Posts Better-Than-Expected Q2
(+) YY, (+16.32%) Q2 Earnings, Sales Top Street View
(+) LNKD, (+9.63%) Q2 Results Top Expectations
(-) WPRT, (-9.01%) Q2 Weakens Vs Yr Ago and Co Cuts FY Sales Outlook
(-) BYD, (-6.25%) Plans 15 Mln Share Offering
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