Equity conviction is returning but tech not seeing love, claims BofA

US Adds 517 Thousand Jobs in January, Crushing Estimates

February 3, 2023 8:30 AM EST

Change in Nonfarm Payrolls (Jan) 517K vs 188K Expected, Unemployment Rate 3.4%

Total nonfarm payroll employment rose by 517,000 in January, and the unemployment rate changed little at 3.4 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Employment also increased in government, partially reflecting the return of workers from a strike.

This news release presents statistics from two monthly surveys. The household survey measures labor force status, including unemployment, by demographic characteristics. The establishment survey measures nonfarm... More

U.S. stock futures slip amid disappointing tech results, looming labor market data

February 3, 2023 7:14 AM EST

By Scott Kanowsky

Investing.com -- U.S. stock futures pointed lower on Friday, with traders digesting a string of downbeat results from tech sector heavyweights and awaiting the release of a key U.S. labor market data.

At 06:35 ET (11:35 GMT), S&P 500 futures traded 36 points or 0.86% lower, and tech-heavy Nasdaq 100 futures shed 195 points or 1.52%. The Dow futures contract also dropped by 122 points or 0.36%.

The gloomier sentiment stands broadly in contrast to the end of the prior session when the NASDAQ Composite and S&P 500 ticked higher thanks to softer language on... More

Wall Street ends down after stunning jobs growth raises Fed questions

February 3, 2023 5:20 AM EST

By Lewis Krauskopf, Shreyashi Sanyal and Johann M Cherian

(Reuters) - Major U.S. stock indexes ended lower on Friday after surprisingly strong jobs data sparked concerns about aggressive Federal Reserve action, while investors digested a mixed bag of megacap company earnings reports.

The S&P 500 still posted a gain for the week, which included a string of major market events, and stood not far from five-month highs. The Nasdaq tallied its fifth straight weekly rise, its longest such streak since late 2021.

U.S. job growth accelerated sharply in January, with nonfarm payrolls surging by 517,000... More

Global S&P Futures lower in premarket

February 3, 2023 2:40 AM EST

Global S&P Futures lower in premarket, Nikkei mixed, DAX down 2%, WTI Crude oil recently at $76, natural gas mixed, gold at $1930

... More

Stocks tumble, U.S. bond yields rise on strong jobs report

February 2, 2023 9:36 PM EST

By Chuck Mikolajczak

NEW YORK (Reuters) - A gauge of global stocks dropped more than 1%, while U.S. Treasury yields and the dollar rose on Friday after a shockingly strong U.S. jobs report renewed concerns the Federal Reserve may remain aggressive in its path of interest rate hikes as it tries to tame inflation.

The report from the Labor Department showed nonfarm payrolls surged by 517,000 jobs in January, well above the 185,000 estimate of economists polled by Reuters, with data for December also being revised higher. Average hourly earnings increased 0.3%, as expected, down from the 0.4% in the... More