Index Option Calls
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Index Option Calls
No Result
View All Result
Home Latest News

Stock futures extend gains after better-than-expected October jobs report

by
November 5, 2021
in Latest News
0
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

RELATED POSTS

Is Trendspider The Best Stock Research Website? A User’s Comprehensive Guide

Is Motley Fool Rule Breakers The Best Stock Research Website? The Truth

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 in morning trading Friday after the October jobs report came in better than expected, boosting optimism about the economic recovery.

Futures on the Dow Jones Industrial Average rose 120 points, while S&P 500 futures gained 0.4% and Nasdaq 100 futures climbed 0.3%.

The move for stocks came as job gains for the month of October came in at 531,000. Consensus estimates called for 450,000 jobs added, according to Dow Jones. The report also revised September’s disappointing number up to 312,000 job gains from 194,000 previously, and increased its August number by a similar amount.

Friday’s report carried extra weight for economic forecasters “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.

The jobs report was not the only optimistic economic news to reach the market on Friday. 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%.

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

Is Trendspider The Best Stock Research Website? A User’s Comprehensive Guide

by
October 4, 2023
0

Stock research websites offer a wealth of information. They provide crucial insights into market trends, stock performance, and potential investment...

Is Motley Fool Rule Breakers The Best Stock Research Website? The Truth

by
October 4, 2023
0

Finding quality stock research websites can take time and effort. With numerous platforms promising to offer unparalleled insights and guidance,...

Is Trade Ideas The Best Stock Research Website? Unraveling Its Potential

by
October 4, 2023
0

In today’s rapidly evolving financial landscape, stock research websites have become indispensable tools for investors. The modern stock market, characterized...

Is Seeking Alpha The Best Swing Trading Alerts Service? Beyond the Hype

by
October 4, 2023
0

Seeking Alpha is one of the most recognized platforms in the investment realm. Established as a repository for investment knowledge,...

Is Stock Rover the Best Stock Analysis Website?

by
October 4, 2023
0

Whether you’re a newcomer or have decades of experience in investing, this review on Stock Rover will help you steer...

Next Post

Comments on October Employment Report

Here's where the jobs are -- in one chart

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

  • A Couple Stored IRA Gold at Home. They Owe the IRS More Than $300,000.

    0 shares
    Share 0 Tweet 0
  • A California Couple Spent Eight Years Building Their Dream Retirement Home in Costa Rica

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs picks new stocks to buy — and says these 5 have over 100% upside

    0 shares
    Share 0 Tweet 0
  • Goldman Sachs says buy these stocks to play Web 3.0 and the metaverse

    0 shares
    Share 0 Tweet 0
  • In his final warning, this stock trading wizard — who made big money in bear markets and crashes — called this market a bubble like no other

    0 shares
    Share 0 Tweet 0
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.indexoptioncalls.com
No Result
View All Result
  • Home
  • Latest News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.indexoptioncalls.com