Futures Market News
Positive jobs figures help snap stock futures decline
Nov 24, 2010 08:37 AM
After data from the Department of Labor showed that the advance number of seasonally adjusted unemployment claims came in at 407,000, down from last week's revised figure of 440,000, U.S. stock index futures reacted positively.
In the U.S., Dow Jones Industrial Average index futures rose 64 points to 11,078 at 9:14 a.m. EST, while S&P 500 index futures gained 8.4 points to 1,186.70. Nasdaq 100 index futures climbed 17.75 points to 2,136.75.
"The jobs market is finally beginning to respond to the economic recovery," David Kelly, a JPMorgan fund manager, suggested to Bloomberg News. "Today's figures increase the possibility of a further step up in economic growth in the fourth quarter."
In Brazil, Bovespa index futures posted an astonishing gain of 1,097 points to 69,410, a movement which was likely predicated on the announcement that president-elect Dilma Rousseff would replace central bank chief Henrique Meirelles with Alexandre Tombini, a member of the current central bank board.
Asian stock index futures were more moderated, as concern over the Korean crisis continued. Hang Seng index futures slipped 21 points to 22,930, while Nikkei 225 index futures were flat at 10,040.
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