U.S. Stock Futures Push Higher on Improving Jobs Numbers

JobsNEW YORK -- U.S. stock futures are higher with the government reporting that weekly jobless claims edged downward last week, suggesting that employers may accelerate hiring this month.

Weekly applications dropped 1,000 to a seasonally adjusted 367,000 in the week ending May 5, the Labor Department said Thursday. The previous week's figure was revised up slightly.

The Dow Jones Industrial Average rose 48 points to 12,843. The Standard & Poor's 500 gained 9.8 points to 1,360.8. The Nasdaq composite index rose 11.5 points to 2,630.75.

The four-week average for jobless claims, which economists use for a less volatile peek at the employment picture, fell 5,250 to 379,000. When that figure remains consistently below 375,000, it suggests that job growth is strong enough to lower the unemployment rate.

The numbers released by the Labor Department could dispel nascent fears that that strongest yearly start for hiring since the recession ended 2009 was sputtering.

Applications for unemployment benefits rose for most of last month in tandem with weaker hiring in March and April.

There are still signs, however, that companies are still digging out from the recession and a solid hiring environment has yet to take root.

Late Wednesday, a giant in the technology sector spooked the market with a sobering outlook on spending, particularly with Europe weighing on any global recovery.

Cisco Systems Inc. posted strong third-quarter profits, but shares tumbled 8% in premarket trading Thursday on dour comments about the willingness of corporations to make substantial investments.

CEO John Chambers said customers are waiting longer to close deals and they are spending less out of uncertainty about the economy, particularly in Europe and India.

"We are still in an uncertain environment economically," Chambers told analysts in a conference call.


As talks to form a Greek government dragged into a fourth day, European markets fell.

The FTSE 100 index of leading British shares slipped 0.5% to 5,501 while Germany's DAX fell 0.2% at 6,461. The CAC-40 in France was 1.2% lower at 3,081.

In the U.S., Kohl's Corp. said Thursday that first-quarter profit tumbled 23 percent and the department store chain warned that it may fall short of Wall Street expectations in the second quarter.

The report comes a day after Macy's reported first-quarter earnings. While first-quarter profit rose 38 percent, Macy's shares tumbled after the department store left its guidance unchanged.

Though the company tends to give conservative guidance, investors took it as a sign of a potential slowdown in consumer spending, which accounts for about 70 percent of U.S. economic activity.

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Morris Cantonitis

And here is the Wall Alley PIGG Tip of the Day !
When U R A Broker at a Brokerage and that PUT or CALL Option comes in:
1. Contact the NYSE floor and get that Bid dropped immediately and take 40 or 50% off the top.
2. Just take their stops. And if they want to keep playing with stops, just keep taking them
Over and over
Bcause
“There always is a way” which is the NYC financial PIGGS motto.
Have a Great Day
Morris

May 11 2012 at 10:03 AM Report abuse rate up rate down Reply
Morris Cantonitis

People who need people R the luckiest people in the werld……
Well sung and correct Barbara.
But what happens where there R only financial NYC PIGGS and then
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Sing this 2 the tune of
2 that ol Mickey Mouse Song and let’s have sum fun
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SATANS house
SATANS house
4 ever watch u go up SKyyyyy HiGhhhhh
Time comes around
So Do not frown
U CALLED 4 This Company
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------------------------------------------------------------------------------------------
Thank U
Thank U Everyone
Weare 333
flattered by your applause

May 11 2012 at 9:27 AM Report abuse rate up rate down Reply
Kim

The dow being up only 19 points and the headline is "U.S. Stock Futures Push Higher on Improving Jobs Numbers" Only 1,000 jobs and 19 points, they really are pushing to make anything little to make Obama look better. It isn't going to work. Try buying groceries or filling up your car. These writers need to be replaced by someone who can report on credible news.

May 10 2012 at 4:19 PM Report abuse rate up rate down Reply
Somey

Improving job market = victory for Obama

May 10 2012 at 3:28 PM Report abuse -2 rate up rate down Reply
ha6ai

Nonsense! This is worse than the than weekly jobless claim numbers in August 2011 and February 2012.

Just more Obama-propaganda from AOL/HuffPuff. (AOL/HuffPuff is an Obama-propaganda machine - one lying article after another.)

For over 6 months the number of unemployed people who have run out of unemployment insurance is more than those receiving unemployment.

So they are no longer counted as "unemployed" - making the government "unemployment numbers" FALSE.

We continue to suffer the unabated "Obama economy".

May 10 2012 at 12:40 PM Report abuse +2 rate up rate down Reply
cpo1514

-365,000 lastweek, - 385,000 this week all new jobless claims.... Is Barry's Czar stupid or what????

May 10 2012 at 11:59 AM Report abuse +5 rate up rate down Reply