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U.S. stock benchmarks gave up slight opening gains on Friday, following a jobs report that was slightly cooler than Wall Street expected but solid enough to keep intact the Federal Reserve’s plan to lift interest rates in December. The Dow Jones Industrial Average fell 0.1% at 23,487, the S&P 500 index gave up 2 points, or 0.1% at 2,578. Meanwhile, the Nasdaq Composite Index held on to a less-than 0.1% rise at 6,720, as the technology-heavy index scored a bump from better-than-expected corporate results from iPhone-maker Apple Inc. . The Cupertino, Calif., company is set to become the first company with a $900 billion valuation. The October payroll report showed 261,000 jobs added over the month, below the 325,000 that had been expected. However, the unemployment rate dipped to 4.1% from 4.2% and the September report was raised to show a gain, compared with the initial read of job losses. The October report suggests that there are still lingering effects from Hurricanes Harvey and Irma, which had muddled September’s labor-market results. The dollar and benchmark 10-year yields fell slightly after the jobs reading.

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.

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From:: Stock Market News

Apple Inc. was within $5.2 billion of becoming the first $900 billion company by market capitalization in the first minute after the open, before the technology giant’s stock pared some gains. Apple said in its annual 10-K filed Friday morning with the Securities and Exchange Commission that it had 5,134,312,000 billion shares outstanding as of Oct. 20, down from 5,165,228,000 shares outstanding as of July 21, according to the fiscal third-quarter 10-Q filing. At the stock’s all-time intraday high Friday of $174.26, Apple’s market cap was $894.71 billion. It would take a $7.18, or 4.3%, gain Friday to $175.29 for Apple to reach the $900 billion market. Teh stock has las up $3.4, or 2.2%. It has run up 48% year to date, while the Nasdaq Composite has climbed 25% and the Dow Jones Industrial Average has gained 19%.

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.

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From:: Stock Market News

The Dow Jones Industrial Average flipped into negative territory in early trade as declines in Goldman Sachs and Boeing Co. helped to offset a record rally in Apple’s stock. Goldman Sachs Group Inc. , Boeing Co. and International Business Machines Corp. were combining to exact a more than 30-point tax on the price-weighted Dow . Those declines were putting pressure on gains from Apple Inc., which was contributing about 25 points to the blue-chip gauge. Meanwhile, the S&P 500 index was down less than 0.1% at 2,578, also slipping into the red after opening gains as the financial sector retreated . The technology-laden Nasdaq Composite Index was holding on to slight gains on the back of Apple’s rising shares, which took it to a valuation at $900 billion for the first time.

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.

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Paramount Pictures, the film division of Viacom Inc. that is currently in turnaround mode, said on Friday that it has extended its exclusive partnership with Hasbro Inc. to produce and distribute content based on Hasbro brands. The five-year deal expands on the two companies’ current relationship. Terms of the deal were not disclosed. Paramount’s relationship with Hasbro has gifted it five “Transformers” films, which have grossed $4.4 billion worldwide, as well as two “G.I. Joe” films and a “Transformers” spin off, “Bumblebee,” set for a December 2018 theatrical release. Under the agreement, Paramount and Hasbro will co-finance projects, including TV programming, and Paramount will serve as distributor. Shares of Viacom have declined nearly 26% in the year to date, while Hasbro shares are up more than 15%. By comparison, the S&P 500 index is up more than 15% and the Dow Jones Industrial Average is up 19%.

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.

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Shares of internet radio platform Pandora Media Inc. fell nearly 26% in morning trade on Friday, hitting an all-time low. Pandora reported earnings for the third quarter after the market closed on Thursday and missed on revenue. The company also reported losing 2.3 million active listeners. Pandora management provided downgrade guidance and a plan for the company moving forward during a company’s quarterly conference call. Analysts have said that management’s view on the business has been sobering, and that the company’s advertising technology driven turnaround will take time. Pandora shares were downgraded to neutral from overweight at J.P. Morgan. “We believe new management are appropriately focused on stabilizing monthly users and investing in ad tech to capture greater share of overall radio dollars,” wrote J.P. Morgan analyst Doug Anmuth. “But overall visibility remains limited and we do not see a near-term catalyst for the shares.” Pandora shares have declined more than 54% in the year to dated, while the S&P 500 index [S: SPX] is up more than 15% and the Dow Jones Industrial Average is up 19%.

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.

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From:: Stock Market News

U.S. stock benchmarks opened modestly higher on Friday following a jobs report that was slightly cooler than Wall Street expected but solid enough to keep intact the Federal Reserve’s plan to lift interest rates in December. The Dow Jones Industrial Average climbed 0.1% at 23,539, the S&P 500 index rose 2 points, or 0.1% at 2,581. Meanwhile, the Nasdaq Composite Index advanced firmly higher, up 0.3% at 6,732, as the technology-heavy index scored a bump from better-than-expected corporate results from iPhone-maker Apple Inc. . The Cupertino, Calif., company is set to become the first company with a $900 billion valuation. The October payroll report showed 261,000 jobs added over the month, below the 325,000 that had been expected. However, the unemployment rate dipped to 4.1% from 4.2% and the September report was raised to show a gain, compared with the initial read of job losses. The October report suggests that there are still lingering effects from Hurricanes Harvey and Irma, which had muddled September’s labor-market results. The dollar and benchmark 10-year yields fell slightly after the jobs reading.

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.

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From:: Stock Market News

The U.S. dollar lost ground against its main rivals early Friday after a reading for October employment showed that the U.S. economy added 261,000 jobs, compared with expectations for 325,000 jobs, according to average economists’ estimates polled by MarketWatch. The reading marks the second cooler-than-forecast reports following a pair of Hurricanes that devastated Houston, parts of Louisiana and slammed Florida’s coastline. Weakness in the greenback suggest that investors believe that the Federal Reserve may be given some reason to pause in lifting interest rates in December. However, the headline unemployment figure dropped to 4.1%, reaching its lowest level since 2000. The ICE U.S. Dollar Index dropped to a low of 94.418, before recovering to 94.578, down 0.1% from yesterday.

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.

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From:: Stock Market News

Treasury yields dipped after a weaker-than-expected non-farm payrolls employment report. The U.S. economy added 261,000 jobs in October. Economists surveyed by MarketWatch had forecast a 325,000 increase in nonfarm jobs. Wage growth was muted. The 10-year benchmark bond yield fell to 2.329%, from 2.343% on late Thursday. The 2-year yield was unchanged at 1.608%, while the 30-year yield edged lower to 2.814%, versus 2.343%.

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.

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From:: Stock Market News

U.S. stock-index futures held at modestly higher levels on Friday, after the October payroll report showed 261,000 jobs added in the month, below expectations. Futures for the Dow Jones Industrial Average rose 31 points, or 0.1%, to 23,469. Futures for the S&P 500 index added 1.80 point, or 0.1%, to 2,578.5, while those for the Nasdaq-100 index jumped 22.75 points, or 0.3%, to 6,258. Futures were little impacted by the data, which also showed the unemployment rate dip to 4.1% from 4.2%, hitting the lowest level since December 2000. The initially reported loss of 33,000 jobs in September was revised to an 18,000 gain. The increase in jobs in August was raised to 208,000 from 169,000.

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.

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From:: Stock Market News

WASHINGTON (MarketWatch) – The U.S. economy added 261,000 jobs in October as employment rebounded from a miserly gain in the prior month due to hurricanes Harvey and Irma. Economists polled by MarketWatch had predicted a 325,000 increase in nonfarm jobs. The unemployment rate slipped to 4.1% from 4.2%, the lowest level since December 2000. Wages fell 1 cent to an average of $26.53 an hour, the government said Friday. Hourly pay increased 2.4% from October 2016 to October 2017, down from 2.8% in the prior month. The average workweek was flat at 34.4 hours. The initially reported loss of 33,000 jobs in September was revised to an 18,000 gain. The increase in jobs in August was raised to 208,000 from 169,000.

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.

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From:: Stock Market News