According to the US Bureau of Labor Statistics, nonfarm payroll employment increased by 192,000 in February, and the unemployment rate was little changed at 8.9 percent from 9 percent in January. Job gains occurred in manufacturing, construction, professional and business services, health care and transportation and warehousing.
Ahead of the opening bell the US stock indexes were trading in green. Standard and Poor’s 500 futures were trading up by 23 points or 1.72 percent at 1,330.97. Nasdaq 100 futures stood at 2,798.74, gaining 50.67 points or 1.84 percent. Dow Industrial Average futures were high by 191.40 points or 1.59 percent at 12,258.20.
Stocks to watch:
Wal-Mart (NYSE: WMT) increased its annual dividend by 21 percent, to $1.46 a share. The world’s largest retailer, which pays dividends quarterly, had a $1.21 dividend in fiscal 2011, which ended in January. In pre-market trading, the stock value of WMT is $52.45, up 0.83 percent.
Genesco Inc. (NYSE: GCO) reported earnings from continuing operations of $31.4 million, or $1.34 per diluted share for the fourth quarter ended January 29, 2011, compared to earnings from continuing operations of $25.8 million, or $1.08 per diluted share, for the fourth quarter ended January 30, 2010. GCO is trading at $42 gaining 2.79 percent.
To expand its building efficiency capabilities, Johnson Controls Inc. (NYSE: JCI), a Milwaukee-based developer of energy management technology has agreed to acquire Energy Connect Group for $32.3 million. The stock closed at $40.59, gaining 0.87 percent on Thursday.
Spreadtrum Communications Inc. (Nasdaq: SPRD) reported net income of $30 million, or $0.62 per share for the fourth-quarter of 2010, compared to net income of $19.5 million, or $0.41 per share in the same quarter last year. SPRD is trading higher by 10.08 percent to $23.80 in the pre-market trading on Friday.
Global Markets: FTSE, CAC40, DAX, Nikkei 225, Straits Times, Hang Seng, Shanghai Composite Index
European indexes were trading on higher note midday. Britain’s FTSE 100 was up 0.55 percent to 6,038.41 by 33.32 points while France’s CAC 40 gaining 11.20 points or 0.28 percent to 4,071.96. Germany’s DAX was trading at $7,273.85, up 47.89 points or 0.66 percent.
Most of the Asian markets ended on green note on Friday. Japan’s Nikkei 225 gained 107.64 points or 1.02 percent to settle at 10,693.66. Singapore’s Straits Times closed at $3,061.31, up 23.96 points or 0.79 percent. Hong Kong’s Hang Seng stood at 23,408.86, gaining 286.44 points or 1.24 percent and Shanghai Composite Index finished 39.19 points or 1.35 percent higher at 2,942.17.
Crude Oil Above $100
Crude oil was trading higher at $102.77 per barrel by 0.86 percent or 0.88 points. Natural gas was down 0.69 percent at $3.75 per MMBtu. Gold stood at $1,418 per ounce gaining 0.14 percent. Silver was trading up at $34.44 per ounce by 0.37 percent.
In the currency market, Euro lost against US$, trading low 0.0072 percent at 1.3960. GBP lost 0.0154 percent against US$, was at $1.6272. US$ was high 0.4733 percent to Japanese Yen 82.7950. US$ gained against CAD by 0.0380 percent, trading at 0.9729.
On Thursday, the Dow Jones Industrial Average was up 191.40 points or 1.59 percent at 12,258.20. The Standard & Poor’s 500 Index climbed 22.50 points or 1.72 percent to 1,330.94 while, Nasdaq Composite Index reached 2,798.74, gaining 1.84 percent or 50.67 points.
