MarketWatch.com - Pre-Market Indications

Friday, October 8, 2010

Indications: U.S. futures pare drop after payrolls data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Simon Kennedy, MarketWatch

NEW YORK (MarketWatch) â€" U.S. stock-market futures pared losses Friday, as the September jobs report proved dreary enough to support the notion of more quantitative easing by the Federal Reserve.

“The twisted irony is this should be perceived as a negative, but Wall Street is banking on heavy Fed involvement to help push stocks higher for the rest of the year,” Todd M. Schoenberger, managing director at LandColt Trading LLC, wrote in a note.

Stock futures struggled to remain positive after the government reported the U.S. economy lost 95,000 nonfarm jobs in September, while the unemployment rate held steady at 9.6%. Read more about jobs report.

After briefly dropping as much as 80 points, futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\z10 (DJZ10 10,947, +35.00, +0.32%)  lately fell 6 points to 10,906, and S&P 500 futures /quotes/comstock/21m!f:sp\z10 (SPZ10 1,160, +3.70, +0.32%)  were nearly flat at 1,156.

Futures on the Nasdaq 100 index /quotes/comstock/21m!f:nd\z10 (NDZ10 2,025, +11.00, +0.55%)  slipped 2.25 points to 2,011.25.

The move came after U.S. stocks finished mostly lower Thursday. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 11,007, +58.46, +0.53%)  closed down about 0.2%, failing to breach the psychologically important 11,000 level.

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Total nonfarm payrolls were expected to fall by 8,000, while private-sector jobs were projected to rise by 85,000 on the month.

The unemployment rate was also expected to rise slightly, to 9.7% from 9.6% in August.

Speculation had been growing in the markets about whether the Fed will decide to implement another round of quantitative easing at its November meeting in order to boost the sluggish recovery.

St. Louis Federal Reserve Bank President James Bullard told CNBC Friday that the Fed will face a difficult decision on whether to begin another round of asset purchases.

“The economy has slowed, but it hasn’t slowed so much,” Bullard said. He added that he will go into the meeting “with an open mind.”

Among Friday’s stocks in focus, shares of Alcoa /quotes/comstock/13*!aa/quotes/nls/aa (AA 12.95, +0.75, +6.15%)  rose 3.6% in premarket trading after its late-Thursday announcement marked the unofficial start to earnings season.

Alcoa, a component of the Dow Jones Industrial Average, reported a roughly 21% drop in third-quarter profit, but still beat market expectations, and management also lifted its forecast for global aluminum demand in 2010. See full story on Alcoa’s results.

Also in focus, shares of chip maker Micron Technology Inc. /quotes/comstock/15*!mu/quotes/nls/mu (MU 7.58, +0.47, +6.54%)  could fall. Late Thursday, the company swung to a profit of $342 million, or 32 cents a share, for the fiscal fourth quarter, but that failed to match the consensus forecast of 39 cents a share.

In Europe, banking giant Barclays PLC /quotes/comstock/23s!a:barc (UK:BARC 297.25, -6.80, -2.24%)   /quotes/comstock/13*!bcs/quotes/nls/bcs (BCS 18.86, +0.14, +0.74%)  was one of the biggest decliners. The stock dropped 2.9% after a major investor said it had hedged its entire holding in the company in a deal that results in around 220 million shares being sold.

The U.K.’s FTSE 100 index /quotes/comstock/23i!i:ukx (UK:UKX 5,658, -4.52, -0.08%) fell 0.9% in intraday trading. In Asia, Japan’s Nikkei 225 average closed down 1%, while the Shanghai Composite Index soared 3.1% as trading resumed after a weeklong holiday.

Simon Kennedy is the City correspondent for MarketWatch in London.

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Indications: U.S. futures fall ahead of payrolls data

Stock Assault 2.0 - Artificial Intelligence Stock Market Software Alert Email Print

By Simon Kennedy, MarketWatch

LONDON (MarketWatch) â€" U.S. stock-market futures dropped on Friday as investors awaited employment data for September, with Alcoa Inc. in focus after it kicked off earnings season by lifting its forecast for demand.

Futures on the Dow Jones Industrial Average /quotes/comstock/21b!f:dj\z10 (DJZ10 10,910, -2.00, -0.02%)  fell 41 points to 10,871 and S&P 500 futures /quotes/comstock/21m!f:sp\z10 (SPZ10 1,154, -2.50, -0.22%)  dropped 5.10 points to 1,151.40.

Futures on the Nasdaq 100 index /quotes/comstock/21m!f:nd\z10 (NDZ10 2,010, -4.00, -0.20%)  were down 7.50 points at 2,006.50.

The move came after U.S. stocks finished mostly lower on Thursday. The Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,949, -19.07, -0.17%)  closed down around 0.2%, having failed to breach the psychologically important 11,000 level.

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The tone for Friday will be largely set by the September nonfarm payrolls report, due at 8:30 a.m. Eastern time. Total nonfarm payrolls are expected to fall by 8,000, while private-sector jobs are expected to rise by 85,000 on the month. See the preview on nonfarm payrolls.

The unemployment rate is also expected to have risen slightly, to 9.7% from 9.6% in August.

While the data will be important, “the truth is that the market has been medicated for now,” Deutsche Bank said in a note to clients. “Strength in the report may be met with the QE2 [quantitative easing] intravenous drip being turned down and weakness may lead to it being pumped straight back up.”

There has been growing speculation in the markets as to whether the Federal Reserve will choose to implement another round of quantitative easing at its November meeting in order to boost the sluggish recovery.

St. Louis Federal Reserve Bank President James Bullard told CNBC Friday that the Fed will face a difficult decision on whether to begin another round of asset purchases.

“The economy has slowed, but it hasn’t slowed so much,” Bullard said. He added that he will go into the meeting “with an open mind.”

In currencies, the dollar was virtually flat against the euro and Japan’s yen ahead of weekend meetings of the World Bank and International Monetary Fund in Washington.

And in commodities, gold futures fell $5.40 to $1,329.60 an ounce, adding to Thursday’s losses, while crude-oil prices also edged down.

Among Friday’s stocks in focus, shares of Alcoa /quotes/comstock/13*!aa/quotes/nls/aa (AA 12.20, -0.17, -1.37%)  rose 3.6% in premarket trading after its late-Thursday announcement marked the unofficial start to earnings season.

Alcoa, part of the Dow industrials, reported a roughly 21% drop in third-quarter profit, but this still beat market expectations, and management also lifted its forecast for global aluminum demand in 2010. See full story on Alcoa’s results.

Also in focus, shares of chip maker Micron Technology Inc. /quotes/comstock/15*!mu/quotes/nls/mu (MU 7.11, +0.16, +2.30%)  could fall. Late Thursday, the company swung to a profit of $342 million, or 32 cents a share, for the fourth quarter of fiscal 2010, but this failed to match the 39-cents-a-share consensus forecast.

In Europe, banking giant Barclays PLC /quotes/comstock/23s!a:barc (UK:BARC 298.00, -6.05, -1.99%)   /quotes/comstock/13*!bcs/quotes/nls/bcs (BCS 18.72, -0.75, -3.85%)  was one of the biggest decliners. The stock dropped 2.9% after a major investor said it had hedged its entire holding in the company in a deal that results in around 220 million shares being sold.

The U.K.’s FTSE 100 index /quotes/comstock/23i!i:ukx (UK:UKX 5,643, -19.40, -0.34%) fell 0.9% in intraday trading. In Asia, Japan’s Nikkei 225 average closed down 1%, while the Shanghai Composite Index soared 3.1% as trading resumed after a week-long holiday.

Simon Kennedy is the City correspondent for MarketWatch in London.

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NYSE Arca Morning Update - 08:30:00 ET

NYSE Arca Morning Update for Friday, Oct 8, 2010 :

STOCKS TRADING ON NYSE Arca AT A PRICE 15% OR MORE AWAY FROM
THE PREVIOUS TRADE DAY'S CONSOLIDATED CLOSE PRICE (AS OF 08:30:00 ET)

Stock Thursday's Close Current Price Pct Change Current NYSE ARCA Vol
SPE $13.99 $11.89 (15.0%) 6,200


10 MOST ACTIVE STOCKS ON NYSE ARCA AS OF 08:30:00 ET

BASED ON DOLLARS TRADED: | BASED ON SHARES TRADED:
Stock $ Volume Price PctChg | Stock Share Vol Price PctChg
SPY $272792179 $115.76 ( 0.1%) | SPY 2,359,416 $115.76 ( 0.1%)
GLD $15,327,850 $130.43 0.0% | C 1,558,945 $4.17 ( 0.1%)
AAPL $10,615,785 $288.89 ( 0.1%) | AA 485,616 $12.51 2.5%
SDS $8,590,789 $28.70 0.1% | KLIC 319,722 $5.51 (15.0%)
C $6,480,439 $4.17 ( 0.1%) | SDS 298,794 $28.70 0.1%
IWM $6,359,052 $68.28 ( 0.2%) | ADBE 204,529 $27.98 ( 2.5%)
AA $6,072,907 $12.51 2.5% | FAZ 134,549 $12.67 0.3%
QQQQ $5,803,942 $49.37 ( 0.0%) | BAC 127,876 $13.30 ( 0.0%)
ADBE $5,709,014 $27.98 ( 2.5%) | GLD 117,936 $130.43 0.0%
BP $3,684,546 $41.28 ( 0.6%) | QQQQ 117,684 $49.37 ( 0.0%)


Price changes may be affected by symbol splits and dividends.

Consolidated close price is the last print (excluding prints with trade
conditions) prior to 4PM ET.

This information is also updated on our web page every morning at 8:35ET:
http://www.tradearca.com/data/volume/daily_update.asp

This material is for informational purposes only.
NYSE Euronext and its affiliates ("NYSE Arca") are not soliciting any action based upon it.
This material is not to be construed as an offer to buy or sell any security in any jurisdiction where such an offer or solicitation would be illegal.
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Copyright [2010] by NYSE Euronext. All rights reserved. Reproduction and redistribution prohibited without prior express consent.

Pre Market Movers - Futures Trading - Nasdaq - NYSE

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