• Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
Money Profit News
No Result
View All Result
Home Breaking News

Stock futures are muted ahead of October jobs report; Pfizer shares jump

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

Related Posts

IMF says risks to financial stability have increased, calls for vigilance

Awaiting possible indictment, Trump rallies in Waco and vows to ‘destroy the deep state’

Mississippi tornadoes kill 23, injure dozens overnight

Biden declares emergency as crews dig through storm wreckage

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 17 points, while S&P 500 futures and Nasdaq 100 futures both hovered above the flatline.

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%.

Next Post

Insider buying: Big moves from Intel leaders highlight this week's top five internal stock purchases

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!

Popular Posts

Breaking News

Mississippi tornadoes kill 23, injure dozens overnight

by
March 26, 2023
0

Debris covers a damaged structure in Rolling Fork, Miss,. on Saturday, March 25, 2023. Powerful tornadoes tore through the Deep...

Read more

Mississippi tornadoes kill 23, injure dozens overnight

Awaiting possible indictment, Trump rallies in Waco and vows to ‘destroy the deep state’

IMF says risks to financial stability have increased, calls for vigilance

Biden declares emergency as crews dig through storm wreckage

Top 5 China Stocks To Buy And Watch: 3 Internet Giants Are Actionable

The Stock Market Hopes the Worst Is Over. Experience Says It’s Not.

Load More

All rights reserved by www.moneyprofitnews.com

  • Home
  • Breaking News
  • Privacy Policy
  • Email Whitelisting
No Result
View All Result
  • Email Whitelisting
  • Home
  • Privacy Policy

moneyprofitnews