Stock futures signal gains ahead of payrolls
Home page > News

Stock futures signal gains ahead of payrolls

www.reuters.com   | 07.09.2012.

PARIS (Reuters) - Stock index futures pointed to a higher open on Wall Street on Friday, with futures for the S&P 500 up 0.28 percent, Dow Jones futures up 0.32 percent and Nasdaq 100 futures 0.34 percent higher at 0758 GMT.
Stock futures signal gains ahead of payrolls

Stock markets in Europe and Asia rallied on Friday, and yields on the debt of struggling euro zone nations fell as investors welcomed the European Central Bank's latest bond-buying plan and positioned for a strong U.S. jobs report.

Expectations of a big rise in U.S. nonfarm payrolls numbers, due out at 1230 GMT, have risen since data on private sector employment showed robust growth for last month.

The euro rose broadly on Friday as Spanish 10-year bond yields fell below 6 percent for the first time since May, helped by the ECB plan to lower borrowing costs for indebted euro zone countries.

Also lifting the market mood on Friday, China gave the green light for 60 infrastructure projects this week worth more than 1 trillion yuan ($157 billion), or 2.1 percent of China's gross domestic product. And data showed German exports unexpectedly edged up in July and imports rose even more, suggesting Europe's largest economy remains relatively resilient to the euro zone crisis.

American International Group Inc (AIG.N) said it raised $2.02 billion through the sale of a partial stake in its former Asian unit AIA Group Ltd (1299.HK), placing the shares at a surprise premium although analysts were disappointed at the size of the sale.

Apple Inc (AAPL.O) has reduced its orders for memory chips for its new iPhone from its main supplier and competitor Samsung Electronics Co (005930.KS), a source with direct knowledge of the matter said on Friday.

SunTrust Banks Inc (STI.N) has accelerated a planned sale of Coca-Cola Co (KO.N) shares it owns in a move that it said will produce a $1.9 billion pre-tax gain and reduce volatility in its capital ratios.

Gunmaker Smith & Wesson Holding Corp (SWHC.O) raised its full-year sales forecast as it expects to continue tapping growing demand for guns in the United States and boosting production capacity.

Kraft Foods Inc (KFT.O) warned on Thursday that 2013 earnings for its standalone international snack company would likely be lower than some forecasts due to unfavorable foreign exchange rates.

U.S. stocks closed at multi-year highs on Thursday, with the S&P 500 ending at its highest level since before the collapse of Lehman Brothers as investors hailed a new European bond-buying program aimed at stemming the region's debt crisis.

The Dow Jones industrial average .DJI rose 244.52 points, or 1.87 percent, to 13,292.00. The Standard & Poor's 500 Index .SPX was up 28.68 points, or 2.04 percent, at 1,432.12-- its highest level since May 2008, before the financial crisis began to gather steam. The Nasdaq Composite Index .IXIC was up 65.12 points, or 2.12 percent, at 3,134.39.

(Reporting by Blaise Robinson)



Comments (0) Add Your comment Add news < Previous news Next news >








  Add your news >>>