Market Overview

#PreMarket Primer: Friday, January 10: Jobs Friday

#PreMarket Primer: Friday, January 10: Jobs Friday
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No single economic report gets more attention than the monthly non-farm payrolls report. Today at 8:30 am ET, that report hits the markets.

Investors usually sit on their hands prior to the release of the report but this morning, the markets are up. Dow futures imply a 51-point upside move at the open and the S&P 500 would likely move six points higher. This, after a flat day filled with volatility yesterday.

Yesterday, the Dow was essentially flat closing 18 points lower at 16,444.76. The S&P ended the day nearly where it started at 1,838.13, and the NASDAQ gained 0.2 percent to close at 4,156.19.

Top Stories

  • Shares of Sears Holdings (NASDAQ: SHLD) plunged more than 14 percent after it revealed that comp. store sales were down 9.2 percent during the key holiday season.
  • T-Mobile (NYSE: TMUS) announced a credit program of up to $350 to cover termination fees for users who want to ditch their current providers.
  • Worldwide PC shipments fell another 10 percent year-over-year last year.

Asian Markets

Asian markets ended the day mixed after weak China trade data spooked investors. The Nikkei was up nearly 0.2 percent to end the day at 15,912.06

The Shanghai composite was down about 0.7 percent to close at 2013.30 and the Hang Seng, up about 0.3 percent to close at 22846.25.

European Markets

Europe is higher as investors wait for U.S. economic data. The FTSE is up about 0.8 percent and the CAC is up about 0.5 percent. The DAX is up about 0.6 percent.

Commodities

Commodities are mostly higher across the board this morning. WTI is up more than one percent at $92.59 while Brent is about 0.5 percent higher to $106.95. Natural gas is up about one-half of a percent at $4.02.

Gold and silver are trading up about 0.4 percent at $1,232.80 and $19.76 per ounce respectively and copper is up nearly 0.4 percent at $3.31.

Currencies

Major currency pairs are trading nearly at parity this morning. The Euro is flat against the dollar at 1.359, the USD is 0.1 percent higher against the yen at 104.97 and the Aussie dollar is flat against the U.S. dollar at 0.907.

Pre-Market Movers

  • Pacific Sunwear (NASDAQ: PSUN) is down more than 13 percent after lowering its outlook following a disappointing holiday season.
  • Five Below (NASDAQ: FIVE) is down 14 percent. The retailer also cut its outlook after a disappointing holiday season.
  • Abercrombie & Fitch (NYSE: ANF) is up 14 percent after raising its profit forecast.

Earnings

  • Alcoa (NYSE: AA) reported EPS of $0.04, below the consensus estimate of $0.06. Revenue of $5.6 billion came in ahead of consensus of $5.43 billion.
  • There are no earnings announcements scheduled for today.

Economics

Today, the monthly non-farm payrolls report reaches the market at 8:30 am ET this morning. Fed governor James Bullard speaks at 1:05 pm ET.

Posted-In: Earnings News Eurozone Commodities Forex Retail Sales Econ #s Economics Best of Benzinga

 

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