U.S. stock futures pointed to a marginally higher open on Wall Street a day after equities witnessed heavy pressure from sharply dropping commodities prices.
On the economic front, nonfarm payroll employment rose 244,000 in April. However, the unemployment rate edged up to 9 percent from 8.8 percent in March, the Bureau of Labor Statistics reported today.
Ahead of the opening bell, Dow Industrial Average futures were higher by 7 points, or 0.06 percent, to 12,577. Standard and Poor's 500 futures were trading up by 2.10 points, or 0.16 percent, to 1,337.10. Nasdaq 100 futures stood at 2,382.50, up 3.50 points, or 0.15 percent, today.
Hot Stocks of the Day: POM, ALU, CEG, SRZ, PCLN
Pepco Holdings Inc. (NYSE: POM) today reported first quarter 2011 earnings from continuing operations of $62 million, or 27 cents per share, compared with $28 million, or 13 cents per share, in the first quarter of 2010. Pepco last traded at $19.32 on Thursday.
Alcatel-Lucent (NYSE: ALU) was trading lower by 5.91 percent to $5.89 in pre-market trading, after the company posted a net loss of 10 million euros ($14.6 million) compared with a loss of 515 million euros recorded in the year-earlier quarter.
Constellation Energy Group Inc. (NYSE: CEG) reported earnings of $0.63 per share for the first quarter FY 2011, compared with earnings of $1.43 per share in the same quarter last year. The reported earnings missed Wall Street estimate of $0.96 per share. CEG is trading lower by 0.25 percent to $35.57 in the pre-market trading.
Sunrise Senior Living Inc. (NYSE: SRZ) reported revenue of $320.7 million as compared with $354.3 million for the first quarter of 2010. Net loss for the first quarter of 2011 was $17.7 million, or $0.32 per fully diluted share, as compared with net loss of $16.0 million, or $0.29 per fully diluted share, for the first quarter of 2010. SRZ is trading higher by 0.40 percent to $10.03 in the pre-market trading.
Priceline.com Inc. (Nasdaq: PCLN) said first-quarter profit rose to $104.8 million, or $2.05 per share, from $53.9 million, or $1.06 per share, earned in the same period last year. The reported EPS missed Wall Street estimate of $2.46 per share. PCLN is trading lower by 2.22 percent to $522.12 in the pre-market trading Friday.
Global Markets: FTSE, CAC40, DAX, Nikkei 225, Straits Times, Hang Seng, Shanghai Composite Index
Asian markets closed lower today. Singapore's Straits Times lost 6.05 points, or 0.19 percent, to settle at 3,103.80; Hong Kong's Hang Seng closed lower by 102.47 points, or 0.44 percent, to 23,159.14; and China's Shanghai Composite Index closed lower by 8.25 points, or 0.29 percent, to 2,864.15. Japan's Nikkei opened today after three days of close, lost 145 points, or 1.45 percent to close at 9,859.20.
The European indexes were trading mixed mid-day Friday. Britain's FTSE 100 was trading lower by 25.16 points, or 0.43 percent, to 5,894.82; France's CAC40 was trading higher by 3.96 points, or 0.10, percent, to 4,008.83; and Germany's DAX was trading at 7,411.11, adding 34.15 points, or 0.46 percent.
Oil Drops fears of weakening US jobs market
Ahead of the opening bell, crude oil was trading lower by 2.32 points, or 2.32 percent, to $97.48 per barrel. Gold stood at 1,482.50, up by 1.60 points, or 0.11 percent, on Friday.
In the currency market, the euro was trading lower by 0.26 percent to 1.4504 against the U.S. dollar. The dollar lost 0.05 percent at ¥80.2850 against JPY. The British pound is trading higher by 0.20 percent to $1.6428 against the dollar on Friday.
On Thursday, Wall Street closed lower. The Dow Jones Industrial Average closed lower by 139.41 points, or 1.10 percent, to settle at 12,584.17, over Wednesday's close. NASDAQ closed at 2,814.72, down 13.51 points, or 0.48 percent, while Standard & Poor's 500 lost 12.22 points, or 0.91 percent, to 1,335.10.