Benzinga | May 03, 2013 03:51AM ET
U.S. equity futures traded lower in early pre-market trade ahead of the Non-Farm Payrolls report for April and following the EU Commission cutting its growth forecasts. Looking at Non-Farm Payrolls, economists surveyed by Bloomberg are expecting the economy to have added 153 thousand jobs, with the range of estimates wide between 100 and 200 thousand jobs. The private sector is expected to have added 175 thousand jobs and the unemployment rate is expected to remain flat at 7.6 percent.
Top News
In other news around the markets:
Asian shares were mostly higher overnight as Chinese shares rallied following the ECB easing efforts, as the eurozone is China's largest trade partner, and Japanese markets were closed for a holiday. The Shanghai Composite Index rose 1.45 percent and the CSI 300 Index rose 1.77 percent while the Hang Seng Index gained 0.1 percent. Also, the Korean Kospi rose 0.43 percent and Australian shares were flat.
European Markets
European shares were mixed following the revised EC growth forecasts. The Spanish Ibex Index rose 0.29 percent and the FTSE MIB Index fell 0.31 percent. Meanwhile, the German DAX gained 0.07 percent and the French CAC 40 fell 0.17 percent while U.K. shares rose 0.08 percent.
Commodities
Commodities were mixed as energy futures lagged and metals rose. WTI Crude futures fell 0.28 percent to $93.73 per barrel and Brent Crude futures fell 0.31 percent to $102.53 per barrel. Copper futures rallied sharply by 2.72 percent to $318.90 per pound on easing efforts globally. Gold was higher and silver futures rose 0.94 percent to $24.06.
Currencies
Currency markets were on the move overnight ahead of the Non-Farm Payrolls report with the euro bouncing post-Draghi and the yen sliding despite Japanese markets being closed overnight. The EUR/USD was higher at 1.3121 and the dollar rose against the yen to 98.17. Overall, the Dollar Index fell 0.26 percent on weakness against the euro, the yen, and the Swiss franc.
Earnings Reported Yesterday
Key companies that reported earnings Thursday include:
Stocks moving in the pre-market included:
Notable companies expected to report earnings Friday include:
On the economics calendar Friday, aside from the Employment Situation Report, factory orders and the ISM Non-Manufacturing Index are set to be released as well as the ECRI Weekly Index. Also, the Fed's Daniel Tarullo and Jeffery Lacker are set to speak.
BY Matthew Kanterman
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.