By Anora Mahmudova and Barbara Kollmeyer, MarketWatch
NEW YORK (MarketWatch) -- U.S. stock futures gave up modest
post-payrolls gain and pointed to a lower open on Friday.
A key payrolls data showed the economy added 214,000 jobs in
October, while the unemployment rate ticked down to 5.8%.
Just as Wall Street was hoping, the number -- below the
consensus of 243,000 -- doesn't show a stalling recovery or that
the economy is overheating.
Futures for the S&P 500 index (SPZ4) inched down 2.3 point
to 2,025.10, while those for the Dow Jones Industrial Average
(DJZ4) fell 21 points to 17,483. Futures for the Nasdaq-100 index
(NDZ4) was flat at 4,165.25.
The U.S. created 214,000 jobs in October, nudging the
unemployment rate down a notch to 5.8%, as many companies added
workers to gear up for the holiday season. The economy has now
added 200,000 workers or more for nine straight months, a feat last
accomplished in 1994.
Analysts greeted the report as a positive development, pointing
to revisions and other details, such labor participation:
For a second day running, the S&P 500 (SPX) and the Dow
industrials (DJI) finished at record levels on Thursday, boosted
after European Central Bank President Mario Draghi said the central
bank is ready to adopt new easing measures if needed.
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Fed speakers in the mix: Outside of big jobs data, Federal
Reserve Chairwoman Janet Yellen will give a speech on monetary
policy since the onset of the financial crisis at a Bank of France
conference in Paris at 10:15 a.m. Eastern.
Ahead of that, New York Fed President William Dudley, who is a
voting member of the Fed policy committee, will appear on a panel
at the Bank of France conference at 8:15 a.m. Eastern. Chicago Fed
President Charles Evans, who will be a voting member of the Fed
policy committee in 2015, will give opening remarks to the 10th
Annual Community Bankers Symposium at 9:15 a.m. Eastern.
Finally, Fed Gov. Daniel Tarullo will speak at the Chicago Fed's
10th Annual Community Bankers Symposium at 2:30 p.m. Eastern.
Consumer-credit data is due at 3 p.m. Eastern.
Disney, GAP among shares to watch:Walt Disney Co.(DIS) was down
2% in thin premarket trading after the company's earnings fell
slightly short of expectations, while revenue was a slight
beat.
Zynga Inc.(ZNGA) rose 10% in premarket after its third-quarter
earnings met Wall Street forecasts and sales came in slightly
higher.
Sears Holdings Corp.(SHLD) jumped 20% in premarket, after saying
it may form a real estate investment trust involving 200 to 300
stores as it seeks to boost its balance sheet.
King Digital Entertainment PLC(KING) rose 7% in premarket after
the "Candy Crush" creator said third-quarter results topped
expectations and announced a stock-buyback plan.
Ahead of the open, Humana Inc. (HUM) posted a profit that fell
short of forecasts, but shares were so far inactive. Berkshire
Hathaway Inc. (BRK/A) (BRKA) reports after the close. (Read more in
Movers and Shakers
http://www.marketwatch.com/story/berkshire-hathaway-humana-ew-scripps-earnings-in-focus-2014-11-07.)
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Munger
Dollar headed to Yen116? In other markets, the dollar (USDJPY)
inched up against the yen, but one analyst said watch for a move to
Yen116 to Yen116.50 if solid jobs data rallies stocks. Oil (CLZ4)
rose 30 cents, but strategists said they don't really expect any
gains to last, and support at $77 a barrel is shaky. Europe stocks,
meanwhile, climbed ahead of the U.S. payroll data, while the Nikkei
225 index rose 0.5% to gain 2.8% for the week.
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