After Market: Stocks Keep Rising Ahead of May Jobs Report


Investors are often cautious on the day ahead of the government's monthly jobs report, but that wasn't the case Thursday. The Dow Industrials and the S&P 500 both rallied to record highs, helped by the European Central Bank's move to cut key interest rates to near zero. The Dow Jones industrial average (^DJI) gained 98 points, the Standard & Poor's 500 index (^GPSC) rose 12, and the Nasdaq composite (^IXIC) rallied 44 points.

The Dow was led upward by Caterpillar (CAT) and Microsoft (MSFT), both up more than 2 percent. FBR Capital raised its rating on Microsoft to "outperform."

General Motors (GM) edged lower. An internal report on the company's faulty ignition switches found incompetence and neglect, but no conspiracy and no cover-up. GM shares are lower so far this year as the recalls and negative reports about the company's conduct have piled up.

Amazon (AMZN) jumped 5 percent on news reports that it's about to launch its own smartphone.

Barnes & Noble (BKS) gained 3½ percent. It's partnering with Samsung on a co-branded tablet due out by the end of the summer.

And Netflix (NFLX) added 1 percent. It's now blaming Verizon (VZ) for slowing the speed on Internet delivery of its movies. Netflix shares are now up more than 90 percent over the past year. Verizon responded by sending a legal challenge to Netflix, saying there's no basis for its charges.

On the merger front, investors are hanging up on Sprint (S) following reports that it's near a deal to pay $50 billion to buy T-Mobile (TMUS). Sprint lost 4 percent and T-Mobile fell 2 percent.

But Whole Foods (WFM) gained 4½ percent on a report it may be a takeover target, with the large privately held supermarket chain Publix mentioned as a possible suitor.

As for earnings, Rite Aid (RAD) slid 7½ percent after lowering its outlook. PVH (PVH) also cut its outlook. The owner of the Calvin Klein and Tommy Hilfiger brands fell 8 percent. And handbag maker Vera Bradley (VRA) fell 5 percent as earnings tumbled.

On the upside, network equipment company Ciena (CIEN) jumped 18 percent after beating expectations and raising its outlook.

What to Watch Friday:
  • The Labor Department releases employment data for May at 8:30 a.m. Eastern time.
  • The Federal Reserve releases consumer credit data for April at 3 p.m.
  • Jos. A. Bank Clothiers (JOSB) reports quarterly financial results after markets close in New York.
-Produced by Drew Trachtenberg.

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This is the relative chosen by General George Washington to take Parker Wickhams live stock and attack the British ships:

Commander, Connecticut Privateers

Thomas Wickham was a resident of New London County, Connecticut. He was commissioned to the Connecticut Privateer Sloop Hampton Packet on 23 October 1781, being one of the co-owners of the privateer. Wickham captured the unknown two-masted boat (or schooner) on 23 December 1781 and the schooner Peggy on 2 March 1783. [Middlebrook, Maritime Connecticut During The Revolution, II, 105-106; NRAR, 323]

The reason Thomas was a resident of Connecticut was because New York was controlled by the Brittish. Thomas had to take his loyalist brother Parker Wickham's stuff and bring it to Connecticut.

In the end George Washington became First President of the United States and I get to tell you how I am a descendant from Joseph Wickham the brother of Thomas and Parker!

June 05 2014 at 11:49 PM Report abuse -1 rate up rate down Reply


A silly little fellow who's made over 8 grand in 4 days.

You're a joke. You know it, and I know it.

And that's good enough for me.


Skippy you're a phony and you're full of it. And you are one silly little fellow in a pathetic sort of way. You're not fooling anyone. Now be a good little simp and go play with your toy airplane.

June 05 2014 at 11:36 PM Report abuse rate up rate down Reply
1 reply to skcarcomed_01's comment

Making 8 grand in the market in one day is not out of the question if one is heavily invested as I am since 1980. You need to quit spinning your wheels and get ahead instead of blowing smoke.

June 06 2014 at 1:17 AM Report abuse rate up rate down Reply

This is a great time to retire and take your money out of the market and run because ond BIG crash is coming. The market only reflects the fact that it is the biggest game in town and it is rigged more or less. Take advantage and retire tomoorrow and lock in your 401 K and sell as soon as possible. Buy durable goods that you will need. New roof, windows, boiler, hot water heater, new appliances and then batten down the hatches. The best alternative is however ... move to Norway and build a tiny house

June 05 2014 at 11:25 PM Report abuse +1 rate up rate down Reply

Oh well there is not much to talk about now except for my ancestry.

I think you will find this report rather shocking.

June 05 2014 at 6:57 PM Report abuse -1 rate up rate down Reply

The labor report will be the taken lightly by the stock market tomorow but those that already know the score have already made up their minds. Nothing but a sudden burst of money will save the millions of people who left the labor force in disgust. The debt bubble will burst for millions in school loans, mortgages, credit cards, and leave a endless wave of grief as the stockmarket staves off reality.

June 05 2014 at 6:46 PM Report abuse -2 rate up rate down Reply
1 reply to Iselin007's comment

Well, aren't you just a big ray of sunshine.

June 05 2014 at 8:20 PM Report abuse +3 rate up rate down Reply
1 reply to elendil3136's comment

Just letting you know the facts come rain or shine.

June 06 2014 at 12:01 AM Report abuse +1 rate up rate down

LMAO - the biggest fraud on earth - Wall Street. How them "analysts" do with 1st qtr GDP? The job numbers, as announced by the "gov" are a total farce - why doesn't big ears just send a check to everyone every month, then the rate could be 0. Insider trading, gross government ignorance and indifference, fraud, greed, deceit and constant mega-lies are what rules the "markets". The only persons more corrupt than members of the Senate and House, are Obama and Holder. Tax reform? Insider trading - oh, wow, Phil Mickelson must be the worst case!

June 05 2014 at 6:22 PM Report abuse rate up rate down Reply
1 reply to Oyster's comment

The worst they can do to Phil Mickelson is take away his green jacket.

June 05 2014 at 7:07 PM Report abuse rate up rate down Reply

The bubble will burst here at home in the USA and not a tear will be shed by investors whose invesments are off shore. The retail, housing, banks, and other service nodes will take the hit from the lack of good employment. Certainly moral is dropping all cross this country making people cynical.

Take a poll now a majority of politicians would be headed for the unemployment line.

June 05 2014 at 6:06 PM Report abuse rate up rate down Reply

The efforts to push too many job killing agendas such as cap and trade or additional trade deals like TPP will have a disasterous and profound effect on US job creation.There is little demand for things that produce quality jobs because the demand for such work is off shore not in the states. Too many state are vying for manufacturing jobs while too many states are losing them. Unless we can create jobs like manufacturing jobs in great quanity there will be no jobs for the majority of us to pay our bills with. Retail and other crap service jobs are turning the country into a bazzar of tent merchants and sellers of service contracts.

June 05 2014 at 5:42 PM Report abuse -1 rate up rate down Reply

Obviously the hint that the report could be lacking jobs in the USA has no effect on their profits made off shore. We have hadly anything to export over seas which they have great urgency for, so once again the investors could careless about the jobs report back in the states.

Unless the USA can change it's agenda and foster job creation at home politicians will be flushing money down the toilet inorder to stay in office.

June 05 2014 at 5:22 PM Report abuse -1 rate up rate down Reply