(By Salman - iStockAnalyst Writer)US stock futures slid on Friday after a government release showed that the economy lost deeper-than-expected 263,000 net jobs in September.
At 8:32 am ET, the S&P 500 futures slumped 10.40 points to 1017. The Dow Jones Industrial average futures plunged 97 points to 9374. The Nasdaq Composite futures tumbled 15.50 points to 1655.
A release by Department of Labor on Friday showed that U.S. employers slashed 263,000 net jobs in September. Economists were expecting a drop of 175,000 in non-farm payrolls. Unemployment rate increased to 9.8%, matching consensus estimates.
Shares of First Solar (NASDAQ:
FSLR) rallied before the opening bell on Friday. Standard & Poor's said late Thursday that the Tempe, Arizona-based solar company will join its flagship S&P 500 stock index.
Apple (NASDAQ:
AAPL) shares gained in pre-market trading on Friday after it was raised to buy from neutral by UBS, citing strong sales growth of iPhone.
Late on Thursday, Accenture Plc.(NYSE:
ACN) said that its fiscal fourth-quarter net income dropped to $301.4 million, or 39 cents a share, from $543.1 million, or 67 cents a share in the same quarter a year earlier. Net revenue for the quarter ended in August slipped 14% to $5.15 billion.
Walgreen Co. (NYSE:
WAG), the second-largest US drugstore chain, announced Friday that its same-store sales jumped 5.3% in September.
Embattled commercial lender CIT Group Inc. (NYSE:
CIT) said late Thursday it launched a debt restructuring program it hopes will reduce at least $5.7 billion from its balance sheet. Shares of the company soared in pre-market trading.
On the economic front, factory orders data is due for release at 10:30 am ET.
US stocks plunged on Thursday as weaker-than-expected manufacturing and employment data cast doubt over the pace of the US economic recovery.
European stocks retreated in afternoon trade. At 12:56 pm London time, the UK FTSE lost 43.07 points or 0.85% to 5,004.74. The German DAX and French CAC decreased 0.75% and 1.30% respectively.
Asian stocks finished down. The Nikkei 225 fell 246.77 points or 2.47% to 9,731.87. The Hang Seng index of Hong Kong slumped 579.76 or 2.77% to 20,375.49.
NYMEX crude oil for November delivery declined as much as $1.20 or 1.7% to $69.62 a barrel in electronic trading.
Disclosure: Author doesn't own any of the stocks discussed here.
