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Job creation increased by 151,000 in January, and while the increase came in somewhat weaker than market expectations, details pointed to a solid labor market. Meanwhile, the unemployment rate fell below 5% for the first time in nearly 8 years. …read more
From:: Real Estate Wire
WASHINGTON (MarketWatch) – President Barack Obama will make a statement about the economy and the January jobs report at 12:30 p.m. Eastern, the White House announced Friday. The announcement comes after nonfarm-payrolls report released Friday showed a decline in the unemployment rate to 4.9%, the lowest since February 2008.
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From:: Stock Market News
Shares of Lions Gate Entertainment Corp. were in a free-fall Friday morning, down more than 28%, as management addressed the company’s weak third-quarter results on a call with analysts and investors. Lions Gate’s shares hit a three-year low in intraday trade, and were on pace for the biggest price and percentage declines since the company went public in November 1998. The film and TV studio reported late Thursday fiscal third-quarter per-share earnings of 26 cents and revenue of $671 million in revenue, both well below analysts expectations, according to FactSet. Lions Gate Chief Executive Jon Feltheimer said the company’s lackluster earnings were the result of poorer box office performance for its film category. The company also said Thursday it was considering a merger with cable network Starz Inc.
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From:: Stock Market News
The Chicago Stock Exchange Inc. on Friday said it had agreed to be acquired by an investor group led by Chongqing Casin Enterprise Group. The exchange didn’t reveal the purchase price. It said the deal, which is subject to regulatory approval, is expected to close in the second half of 2016.
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From:: Stock Market News
U.S. stocks opened slightly lower on Friday and were on track to book weekly losses. Investors grappled with a mixed jobs report that had a weak headline number, but sharp improvements in wage growth and participation rate. The S&P 500 opened 8 points, or 0.4%, lower at 1,907. The Dow Jones Industrial Average was down 34 points, or 0.2%, at 16,381 at the open. Meanwhile, the Nasdaq Composite began the day down 24 points, or 0.5%, at 4,486.
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From:: Stock Market News
Treasury yields moved higher Friday morning after wild swings following news that the pace of hiring in the U.S. tapered off in January, but wages rose sharply. The economy added 151,000 jobs in January, which fell below economists’ expectations, but the unemployment rate declined to its lowest reading in eight years. Treasury yields spiked after the report, then tumbled and rose again to trade slightly higher on the day. The yield on the 2-year Treasury was up 2 basis points on the day to 0.734%, suggesting the market expects a slightly more aggressive pace of interest-rate hikes than it previously did. The yield on the 10-year Treasury note, the Treasury market’s benchmark was unchanged at 1.863% and the yield on the 30-year bond, known as the long bond, was up 1 basis point to 2.709%. Treasury yields rise when prices fall and vice versa.
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From:: Stock Market News
The dollar strengthened against its main rivals after the release of the Labor Department’s report on job gains in January. According to the data, the economy added 151,000 jobs in January. Though the headline number came in short of expectations, analysts found a silver lining in a stronger-than-expected hourly wage growth number, and a 0.1% drop in the national unemployment rate, according to a note from Naeem Aslam, chief market analyst at AvaTrade. Economists polled by MarketWatch had expected a monthly gain of 180,000 jobs. The ICE U.S. Dollar index , a measure of the dollar’s strength against a basket of six rival currencies, turned higher on the day after the data, reversing an earlier decline. The index was up 0.1% at 96.5190. The euro traded at $1.1192 after the data, down from, $1.1209 shortly before. The dollar traded at 116.74 yen after the data, little-changed from its level before the report. The pound traded at $1.4520, down from $1.4566 before the data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
The dollar strengthened against its main rivals after the release of the Labor Department’s report on job gains in January. According to the data, the economy added 151,000 jobs in January. Though the headline number came in short of expectations, analysts found a silver lining in a stronger-than-expected hourly wage growth number, and a 0.1% drop in the national unemployment rate, according to a note from Naeem Aslam, chief market analyst at AvaTrade. Economists polled by MarketWatch had expected a monthly gain of 180,000 jobs. The ICE U.S. Dollar index , a measure of the dollar’s strength against a basket of six rival currencies, turned higher on the day after the data, reversing an earlier decline. The index was up 0.1% at 96.5190. The euro traded at $1.1192 after the data, down from, $1.1209 shortly before. The dollar traded at 116.74 yen after the data, little-changed from its level before the report. The pound traded at $1.4520, down from $1.4566 before the data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News
WASHINGTON (MarketWatch) – The U.S. created 151,000 new jobs in January, a sharp slowdown after a torrid pace of hiring in the waning months of 2015. Economists polled by MarketWatch had expected an increase of 180,000 nonfarm jobs. The unemployment rate, meanwhile, dipped below 5% for the first time in eight years, falling to 4.9%. Employment gains for December and November, meanwhile, were little changed, the Labor Department said Friday. The government said 262,000 new jobs were created in December instead of 292,000. November’s gain was raised to 280,000 from 252,000. Average hourly wages jumped 0.5% to $25.39 in January, another sign that a tightening labor market is forcing companies to pay more to attract workers. Hourly pay rose 2.5% from January 2015 to January 2016. The amount of time people worked each week rose 0.1 hour to 34.6 hours, matching a postrecesion peak. The labor-force participation rate wsa basically flat at 62.7% in January.
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From:: Stock Market News
J.C. Penney Inc. said it is pursuing the sale and partial leaseback of its Plano, TX home office, part of its effort to reduce outstanding debt. The company has occupied the building since it was completed in 1992, it said in a Friday release. J.C. Penney expects to offset the cost of leasing space in the building with reduced maintenance costs, property taxes and interest expenses. The new owner will be able to lease 650,000 square feet of space. J.C. Penney shares are inactive in premarket trading and down 5.3% for the past 12 months. The S&P is down 7.1% for the same period.
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From:: Stock Market News