(By Salman - iStockAnalyst Writer) US stock futures advanced on Friday after government release showed that nonfarm payrolls dropped 216,000 in August.
At 8:41 am ET, the S&P 500 futures rose 6.40 points to 1008.10. The Dow Jones Industrial Average futures climbed 53 points to 9383. The Nasdaq Composite futures gained 12.25 points to 1616.25.
A Labor Department release on Friday showed the economy lost 216,000 jobs in August.It marked the 20th consecutive monthly decline in nonfarm payroll. Economists expected payrolls to decline 230,000. The unemployment rate shot up to 26-year high year high of 9.7% in August. Economists had predicted the rate to rise to 7.5%.
shares of financials jumped in pre-market trading.
Early on Friday,H&R Block (NYSE:
HRB) said that its first-quarter net loss totaled $133.6 million, or 40 cents a share, compared to $132.7 million, or 41 cents a share, in the prior year-ago period. Revenue climbed to $275.5 million from $271.9 million.
Cooper Cos. Inc. (NYSE:
COO) said late Thursday that its fiscal third-quarter income rose to $21.9 million, or 48 cents a share, from $17.9 million, or 39 cents a share, in the year-ago period.
Moog Inc. (NYSE:
MOG-A) announced on Friday that it is in talks to buy the Wolverhampton, U.K.-based flight control actuation product line from GE Aviation Systems, a unit of General Electric Co. (NYSE:
GE) .
Finance ministers and central bankers from the Group of 20 developed and emerging nations are meeting in London to discuss the economic outlook,, with the meeting wrapping up on Saturday.
US stocks finished up on Thursday as stronger-than expected retail data fueled hopes of a recovery in consumer spending.
European stocks advanced in afternoon trade. At 12:56 pm London time, the UK FTSE gained 23.73 points or 0.49% to 4,841.28. The German DAX and French CAC increased 0.75% and 0.57% respectively.
Asian stocks finished mixed. The Nikkei 225 dropped 27.53 points or 0.27% to 10,187.11. The Hang Seng index of Hong Kong rose 556.94 points or 2.82% to 20,318.62.
NYMEX crude oil for October delivery climbed as much as 74 cents or 1.1% to $68.70 a barrel in electronic trading on Friday.
Disclosure: Author doesn’t own any of the stocks discussed here.
