Stock Futures Climb Ahead Of Jobs Data; These 2 Techs Explode


SPDR Dow Jones Industrial Average ETF has a one year low of $178.64 and a one year high of $220.67. Another highlight from the morning's jobs report: labor-force participation rose while the unemployment rate declined.

The closely-watched monthly employment report showed the U.S. economy added 209,000 jobs in July, higher than analysts expected, pushing the unemployment rate back down to 4.3 percent.

"It's stability. That's what the markets love. That should provide some comfort", said Bodhi Ganguli, lead economist at Dun & Bradstreet Inc in Short Hills, New Jersey.

In commodities, oil prices rose to higher ground, with United States crude futures gaining 51 cents, or 1%, to $49.54 a barrel on the New York Mercantile Exchange.

Fed-funds futures, used by investors to bet on the US interest-rate outlook, recently showed a 50% chance the Fed raises rates by the end of the year, according to CME Group data.

More news: Ruckus in Rajya Sabha Over Karnataka IT Raids

Analysts, on average, expect S&P 500 earnings to have grown 12 percent in the second quarter and they project earnings up 9.3 percent for the September quarter, according to Thomson Reuters I/B/E/S.

"We would expect next week to see market highs again just based on the positive tone created by strong second-quarter earnings and favourable outlooks", said Tim Ghriskey, chief investment officer of Solaris Group.

Shares of SPDR Dow Jones Industrial Average ETF (NYSE:DIA) traded up 0.23% during mid-day trading on Friday, reaching $220.57. The dollar index (DXY) climbed 0.7% to 93.48. It would later pare losses to finish at 10.03, down 3.9% for the day.

Elsewhere, the consumer review site Yelp soared 27.6 per cent on word it was selling the food delivery and takeout business Eat24 to Grubhub. Winfield Associates Inc. now owns 6,890 shares of the company's stock valued at $1,469,000 after buying an additional 20 shares during the period.