Stock futures surge after jobs report

DEC 04, 2009
By  Bloomberg
Stock futures surged after the government said the nation's jobless rate dropped to 10 percent in November and far fewer jobs were lost than had been expected. The Labor Department said the economy shed 11,000 jobs last month, an improvement from October's revised total of 111,000. That's also much better than the 130,000 job losses that Wall Street economists expected. The unemployment rate fell to 10 percent from 10.2 percent in October, where economists expected it to remain at a 26-year high. Two economic reports from the Labor Department on Thursday gave some economists optimism that employers will ramp up hiring in the New Year, with the economy adding jobs in the first quarter. But many analysts still expect the jobless rate to keep climbing into next year. Ahead of the opening bell, Dow Jones industrial average futures rose 113, or 1.1 percent, to 10,465. Standard & Poor's 500 index futures rose 13.50, or 1.2 percent, to 1,111.50, while Nasdaq 100 index futures rose 21, or 1.2 percent, to 1,801.25. Later this morning, the government reports on October factory orders. The Commerce Department is likely to say factory orders remained flat in October after rising 0.9 percent in September, as demand increased for durable goods, and nondurable goods such as chemicals and energy products.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.