Encouraging Jobs Numbers
Non-farm payrolls rose by 94,000 for November, which was well below the
147,000 analysts had expected, and this sign of a softening labor market has
stocks moving higher at the open Friday.
Unemployment ticked up 0.1% to the expected 4.0%, and the average hourly wage
rose 0.4%, which was slightly ahead of the expected 0.3%. Overall the numbers
support the case for the Fed to lighten up sooner rather than later.
Optimism that the end may be very near in battle for Florida seems to be
helping stocks as well.
The Nasdaq futures are up 95 points, and the Dow futures are up 92 points.
The S&Ps are up 18 points while the yield on the 10-year Treasury is
5.49%.
Friday Movers
Despite receiving a downgrade from Goldman Sachs analyst Rick Sherlund,
Microsoft
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Microsoft closed Thursday down 3 9/16 to 53 1/8 but is trading up to 54 1/4 in
pre-market activity.
Intel
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forecast. Intel rose 1/2 to 32 3/8 on Thursday, and is currently trading up to
34 3/8 in pre-market activity.
Wireless circuit-maker RF Micro Devices
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following news of RF Micro forming a product alliance with Qualcomm
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RF Micro is set to add to Thursday’s gains and is trading up to 36 1/2 in
pre-market activity.
Fiber optic product maker New Focus
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the open. New Focus closed Thursday at 35 1/4 and is currently trading up to 41
in pre-market activity.