Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Stock futures rise slightly ahead of October jobs report; Pfizer shares jump

by
November 5, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

The second-half is ‘not looking good’: Strategists on how to weather the market storm

Tesla Pauses Plants After Ending Shaky Quarter With a Production Milestone

A specialist trader works inside a booth on the floor of the New York Stock Exchange (NYSE) in New York City, October 6, 2021.

Brendan McDermid | Reuters

Stock futures rose slightly in morning trading Friday ahead of the highly anticipated October jobs report.

Futures on the Dow Jones Industrial Average rose 46 points, while S&P 500 futures gained 0.3% and Nasdaq 100 futures climbed 0.4%.

A major development in the fight against the pandemic boosted shares of Pfizer, which rose more than 9% premarket after the company said its Covid-19 drug, used with an HIV drug, cut the risk of hospitalization by 89%.

Investors are awaiting the release of October nonfarm payroll numbers Friday morning. Consensus estimates call for 450,000 jobs added, according to Dow Jones. September’s report tallied 194,000 additional jobs, far short of the 500,000 estimate.

Friday’s “payrolls numbers become even more significant, as it is the first full month of hiring following the expiration of federal enhanced unemployment benefits, while public health has simultaneously improved and labor demand has remained strong,” Goldman Sachs’ Chris Hussey wrote Thursday.

Peloton shares cratered more than 32% in premarket trading after the fitness platform and maker of interactive treadmills and exercise bikes reported a much larger loss than expected and cut its full-year outlook as fitness buffs headed back to the gym and away from at-home workouts.

The company also cited ongoing supply chain challenges for its “challenged visibility” over the near term that CEO John Foley said is causing the company to lower its expectations.

Recovery stock Expedia saw its shares roar higher by 11.6% premarket a day after the company said renewed travel demand boosted its top and bottom lines higher than analysts had expected.

Thursday’s regular trading session saw the S&P 500 gain 0.4% to close at a record high in its sixth-straight winning day. The Nasdaq Composite notched its ninth consecutive positive session, rising 0.8% to a record close. The Dow bucked the trend and dipped 33.35 points.

The technology sector led the S&P 500, up 1.5% Thursday. Financials lagged with a 1.3% loss.

Market participants digested the Federal Reserve’s plan to begin tapering its pandemic aid by the end of November, putting the central bank on track to end its asset purchase program by the middle of next year.

Investors also received a fresh labor market reading Thursday as first-time jobless claims totaled 269,000 last week, the lowest pandemic-era total and lower than expected.

All three major averages are on track to end the week higher. The Dow is up 0.9% on the week, while the S&P 500 is 1.6% higher and the Nasdaq Composite is up 2.9%.

ShareTweetPin

Related Posts

The second-half is ‘not looking good’: Strategists on how to weather the market storm

by
July 5, 2022
0

A trader works on the floor of the New York Stock Exchange (NYSE), June 27, 2022. Brendan McDermid | Reuters...

Tesla Pauses Plants After Ending Shaky Quarter With a Production Milestone

by
July 5, 2022
0

Bloomberg US Recession Isn’t Goldman’s Base Case, Macro Strategist Says (Bloomberg) -- The base-case expectation isn’t for a recession in...

South Korea stocks lead broad gains in Asia; Reserve Bank of Australia hikes rates as expected

by
July 5, 2022
0

SINGAPORE -- Shares in the Asia-Pacific mostly traded higher as investors look ahead to the Reserve Bank of Australia's rate...

Stock futures rise after another losing week on Wall Street

by
July 5, 2022
0

Traders on the floor of the NYSE, July 1, 2022. Source: NYSE Stock futures inched higher in overnight trading after...

European stocks head for higher open as global markets look for gains after rout

by
July 5, 2022
0

LONDON -- European stocks are expected to open higher on Tuesday as global markets look to cement gains after a...

Next Post

U.S. energy secretary has a message for OPEC: Boost oil supply so people don't get hurt this winter

5 things to know before the stock market opens Friday

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Allbirds stock has plunged 50% in two months, now one top analyst says buy it

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com