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Oct 07, 7:22 PM EDT |
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| Market is still in a stage of disbelief and wants more evidence. The latest report of job loss of 35,000 in September is far less than the forecast. |
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| Friday's job report left market in a state of wanting more data on employment situation. Retailers, miners, energy and utilities stocks charged ahead for the day. Research in Motion stock faces turbulence on losing Court of Appeals motion. For the week the Dow down 2.6%, the S&P down 2.7% and the Nasdaq down 2.9%. Alcoa, Genentech an Infosys to report on Monday. |
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Mild Recovery in Averages
Oct 07, 12:44 PM EDT |
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| Better-than-expected nonfarm payroll data release showed that 35,000 jobs were lost in Sept, following an upwardly revised increase of 211,000 in Aug. |
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| Alcoa Inc., the world's biggest aluminum maker, will start the new earnings season on Monday after closing the bell. The company lowered its Q3 earnings forecast to the range of 27 to 31 cents a share, blaming hurricanes and energy costs. The stock fell 23% Thursday. Nonfarm payroll data release showed that 35,000 jobs were lost in September following an upwardly revised increase of 211,000 in August. |
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Payroll Declines by 35,000
Oct 07, 11:10 AM EDT |
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| Oil prices started rising after a five-day decline on supply concerns. Gold climbed to $472 in Europe. The dollar was down against the yen. |
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| Nonfarm payroll data release showed that 35,000 jobs were lost in September following an upwardly revised increase of 211,000 in August. Wholesale inventories in August were $354.5 billion, up 0.5% from July and up 7.7% from a year ago. Sales were $302.5 billion, up 1.3% from July and up 7.6% from August 2004. |
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Payroll Data in the Focus
Oct 07, 9:06 AM EDT |
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| Oil prices started rising after a five-day decline on supply concerns. Gold climbed to $472 in Europe. The dollar was down against the yen. |
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| Asian markets closed down on weak U.S. markets and expectations of nonfarm payroll data. The Nikkei was the biggest decliner, down 1%. European stocks slightly declined at mid-day after two straight sessions of heavy losses, with the German DAX falling by 0.5%. Nonfarm payroll report is expected. Economists forecast that 143,000 jobs were lost in September. |
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