Dow Futures Down After November Jobs Report

By Karee Venema / December 07, 2018 / www.schaeffersresearch.com / Article Link

opening-viewThe U.S. added a lower-than-expected 155,000 jobs in November

The selling looks set to continue on Wall Street, with Dow Jones Industrial Average (DJIA) futures trading below fair value this morning. However, futures have come off their earlier lows, after today's mixed jobs report showed the U.S. added 155,000 jobs in November, while wage growth edged up 0.3%. While these figures were softer than expected, 2018 jobs growth is pacing toward a three-year high, and wage growth is holding near a nine-year peak.

Continue reading for more on today's market, including:

The latest iPhone issues to sink Apple.Founder and CEO Bernie Schaeffer explains why oil may still have further to fall.One options bear bet big on new lows for Ford Motor stock.Plus, Altria takes a stake in Cronos; a retail stock set to plunge; and a popping chip stock.

us stock index futures fair value on dec 7

5 Things You Need to Know Today

The Chicago Board Options Exchange (CBOE) saw 926,238 call contracts traded on Thursday, compared to 787,251 put contracts. The single-session equity put/call ratio jumped to 0.85, and the 21-day moving average rose to 0.70.Following buyout buzz from earlier this week, cigarette maker Altria Group Inc (NYSE:MO) said it will take a 45% stake in cannabis producer Cronos Group Inc (NASDAQ:CRON), at a cost of roughly $1.8 billion. As part of the deal, MO will nominate four directors to the Cronos board. MO stock is up 1.4% in electronic trading, while CRON shares are set to open 34.6% higher.Big Lots, Inc. (NYSE:BIG) reported a wider-than-expected third-quarter loss of 16 cents per share, and lowered its current-quarter earnings per share and same-store sales forecasts, citing a "challenging" holiday season. BIG stock is down 17% in premarket trading, on track to open at a new two-year low of $34.50.Broadcom Inc (NASDAQ:AVGO) is hot ahead of the bell, after the Apple supplier reported adjusted third-quarter profit of $5.85 per share on $24.50 billion in revenue -- more than analysts were expecting -- and raised its full-year revenue guidance. After closing last night at $227.24, AVGO stock is up 4.3% in electronic trading, and could challenge a key trendline today.

Consumer sentiment, wholesale trade data, the Fed's consumer credit report, and the Baker-Hughes rig count will also be released today. Next week's economic calendar will feature closely watched inflation data as traders look ahead to the December Fed meeting.

stocks in the news premarket dec 7

Tech Sector Strength Leads Europe Higher

Markets in Asia were mostly higher today, taking a breather after two turbulent sessions. Thursday's Wall Street Journal report on the U.S. Fed injected some much-needed confidence into global equities that were hit hard by the Huawei scandal. The Shanghai Composite finished the day flat, while Hong Kong's Hang Seng ended 0.4% lower. Japan's Nikkei gained 0.8%, while South Korea's Kospi added 0.3%.

Stocks in Europe are bouncing back today, with the tech sector leading the rally. London's FTSE 100 and the French CAC 40 are up 1.3% at last check, with the former rebounding from its worst session since June 2016. Elsewhere, the German DAX is up 0.4%, ahead of the Christian Democratic Union's (CDU) crucial vote to elect a new leader to replace Chancellor Angela Merkel.

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