Here’s what we’re going to watch before the opening bell on Friday.
– –US stock futures won According to the monthly job report, there was an unexpected increase in the number of employees, while the unemployment rate was lower.
The futures associated with the S&P 500 rose 0.9%. Dow Jones Industrial Average futures rose 0.9%, while contracts related to the Nasdaq-100 rose 0.7%.
– –Treasury offers expanded profits after the climb on Thursday. The recent surge in yields came after Federal Reserve Chairman Jerome Powell failed to give a sign that the central bank would try to stem the surge when speaking at the Wall Street Journal’s Jobs Summit.
– –Employers have created 379,000 jobs in February, fuel for renewed growth as the pandemic subsides. The unemployment rate fell to 6.2%.
– –The number of Baker Hughes rigs, a proxy for drilling activities, appeared at 1:00 p.m. Crude oil prices rose by more than 2%.
– –US consumer credit Numbers are out at 3pm
Watch market movers
– Occidental Petroleum OXY 4.33%
rose 4.5% ahead of the market as the oil and gas producer’s stocks followed higher crude oil prices. Chevron CVX 0.88%
and Exxon Mobil XOM 3.87%
were also among the top winners, both gaining 2.4%.
– Tesla TSLA -4.86%
Stocks have hit the brakes. On Friday, they fell less than 0.1% before entering the market, setting the stock on track for its fourth straight weekly decline. That would be the longest weekly loss since May 2019.
– GPS gap -1.44%
Stocks rose 4.4% ahead of the IPO. The clothing retailer’s executives said consumers were eager to buy the types of clothing they could do without during much of the pandemic and forecast a recovery in sales in the second half of the year.
A gap store in Corte Madera, California on Tuesday.
David Paul Morris / Bloomberg News
– Smith & Wesson SWBI -3.19%
Shot 1.4% higher in front of the market. The gunmaker shipped 500,000 small arms and more than 100,000 rifles in the quarter ended Jan. 31, more than double the prior-year period.
– CoStar Group CSGP -0.57%
Shares rose 6.8% prior to going public. On Thursday it announced that it was giving up its offer to buy real estate data provider CoreLogic,
Rising interest rates are cited as the reason.
– Costco COST -1.51%
Stocks fell 1.3% before the bell. Wholesale chain sales rose again as Americans continued to shop for groceries and housewares during the pandemic.
– Broadcom AVGO -4.20%
Shares gained 1.5% ahead of market entry. The semiconductor and software company posted free cash flow of approximately $ 3 billion in the most recent period and ended the quarter with cash flow of approximately $ 7.62 billion.
The average interest rate on a 30-year fixed-rate mortgage rose to 3.02%, mortgage finance giant Freddie Mac said Thursday. It’s the first time since July that America’s most popular home loan interest rate has risen above 3%, and for the fifth straight week it has risen or stayed stable.
Chart of the day
In the midst of treasuries, fixed income investors are turning to corporate credit, equity-linked debt, and even stocks.
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