(MENAFN- ProactiveInvestors) U.S. stock futures were swinging between slight gains and losses after Friday's jobs report showed the U.S. economy added 321000 jobs in November the biggest monthly gain since January 2012.
Both the Dow and the S&P 500 both retreated from record highs yesterday.
On the economic calendar this morning investors got a better assessment of the labor market with the Labor Department reporting that the U.S. added 321000 jobs in November while wage growth also accelerated. Economists were expecting 230000 nonfarm jobs were created last month.
Hiring was also revised up for both October and September. The government said 243000 new jobs were created in October up from a preliminary 214000 estimate while September's gain was revised up to 271000 from 256000. The unemployment rate meanwhile remained unchanged at 5.8%.
Besides the payrolls report the government also released the October trade deficit which fell 0.4% to $43.4 billion. It was expected to fall to $41 billion from September's $43 billion.
At 10:00am ET October factory orders are expected to post a 0.2% decline on top of September's 0.6% drop. In the afternoon investors can expect October consumer credit figures at 3:00pm ET.
In corporate activity closeout retailer () lost more than expected in its latest quarter and revenue for the quarter was on the light side as well.
Gap () said that comparable store sales rose by a better-than-expected 6% in November driven by an 18% surge at its Old Navy chain.
American Eagle () matched estimates with earnings late Thursday while revenue topped views. It also forecast current quarter earnings below Street estimates.
In other stock news () is reportedly moving to dismiss the lawsuit involving claims of monopolistic behaviour with its iPod software.
The hacking job at Pictures () has disclosed more personal information than previously believed according to a report in the Wall Street Journal including the Social Security numbers of more than 47000 current and former employees actors and other freelancers.
Keurig Green Mountain () is buying the 85% stake of Bevyz Global that it didn't already own for about $220 million. Bevyz makes a single portion multi drink system that includes both hot and cold drinks.
Canada's government has approved Burger King's () $11 billion purchase of (NYSE:THI) clearing the path to create the world's third largest fast food chain.
European markets were broadly higher today with shares in Germany leading the region on expectations for upbeat US jobs data and strong German factory orders. The rally comes after European stocks fell yesterday following Mario Draghi's assertions that further monetary easing measures would not be instituted until next year. Asian markets also finished higher led by China's Shanghai Composite Index.
January crude trimmed its losses after the November jobs report lately down 26 cents in New York to $66.55 a barrel in electronic trading while February gold extended its decline by $14 to $1194 an ounce.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.