Friday May 2, 01:52 PM
U.S. stock futures jump after better-than-expected April jobs data
NEW YORK (Thomson Financial) - U.S. stock futures spiked early Friday after data showing that the job market shrinked, but much less than expected in April.
S&P 500 futures climbed 13.20 points to 1,424.80 and Nasdaq 100 (NASDAQ:
news) futures hiked up 19.50 points to 2,002.75.
Just prior to the release of the jobs data, S&P 500 futures were around 1,412.70 and Nasdaq 100 futures were around 1,980.25.
The Dow industrials 'Diamonds' ETF surged $1.28, or 1%, to $131.24, vs. pre-data levels of around $130.24.
The U.S. Labor Department said April nonfarm payrolls declined by 20,000, compared with the median estimate of economists surveyed by IFR Markets of decline of 80,000. The unemployment rate fell to 5% vs. economist forecasts of 5.2%.
Earlier, the Federal Reserve said it was expanding the size of its Term Auction Facility and the size of its swap agreements with the European Central Bank and the Swiss National Bank in a coordinated expansion of efforts to provide liquidity.
Tomi Kilgore
tk1
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