Futures Tick Up Amid Upbeat Data

FoxBusiness.com ^ | 11/1/2012 | Adam Samson

[mykroar]

Two better-than-expected reports on the U.S. labor market, coupled with a round of strong manufacturing data from China, lifted stock-index futures on Thursday.

Today's Markets

As of 8:35 a.m. ET, Dow Jones Industrial Average futures rose 14 points to 13043, S&P 500 futures climbed 0.75 point to 1408 and Nasdaq 100 futures advanced 8.3 points to 2649.

The markets capped October on a weak note, with the Dow sliding some 2.5%. The tech-heavy Nasdaq fared worse, tumbling 4.5%.

Read more: http://www.foxbusiness.com/markets/2012/11/01/futures-flat-ahead-busy-day/#ixzz2Ayb3U0e7

[mykroar]

The ADP National Employment Report showed the U.S. private sector added 158,000 jobs in October, more than the 135,000 expected. The Labor Department said new claims for unemployment benefits fell to 363,000 last week from an upwardly revised 372,000 the week prior. Claims were expected to rise to 370,000 from an initially reported 369,000.

Shocking, I know......

Planned job cuts by U.S. firms soared 41% to 47,724 to a five-month high in October from September, according to Challenger, Gray & Christmas.

The things that can't be spun are very unhappy.

Read more: http://www.foxbusiness.com/markets/2012/11/01/futures-flat-ahead-busy-day/#ixzz2Ayb9Y0tN

[GeronL]

bump

Those huge downward revisions are “upbeat”??

[BlueStateRightist]

All these numbers are hocus pocus figures that dance around a mean. 372,000 (revised) down to 363,000? Statistical noise and not meaningful. Tomorrow’s jobless rate report will present us with more BS, without question. The media have already received the advanced word and have written their stories of “steady economic recovery.” Romney needs to stick with his shrewd strategy of not focusing on the unemployment rate, but instead the difference between the number of jobs the Marxist promised in 2009 and those that were actually delivered.

[ScottinVA]

Those huge downward revisions are “upbeat”??

From CNBC: "A day after the firm (ADP) sharply lowered its original count for September, ADP and Macroeconomic Advisors, working now with Moody's Analytics, said the service sector once again had a big month for job creation.

Weird, huh?

[GeronL]

I am sure those numbers are trustworthy, lol

[gotribe]

Sell the pops.

[weston]

Service sector = SEIU

[LibLieSlayer]

adp also admitted yesterday that they had overestimated job creation for 2012 by 365,000 jobs... No **** Sherlock!!!

LLS

[tomkat]

             

[wayoverontheright]

ADP is Frank Lautenberg’s company. Consider the source.

[paul544]

Doesn’t matter. Just wait for tomorrow when the labor board releases their numbers. No one cares if they are fudged. All they know is the headline number. The numbers will be good for Obama. Count on it.

[ScottinVA]

adp also admitted yesterday that they had overestimated job creation for 2012 by 365,000 jobs... No **** Sherlock!!!

I'm sure the BLS will roll in that data to re-adjust its UE rate from 7.8% back up to the correct 8.1%. /s

[ScottinVA]

No one cares if they are fudged. All they know is the headline number. The numbers will be good for Obama. Count on it.

Yep. Truth and accuracy be damned, Hilda Solis and Co. are all in to protect the boss.

I predict the BSers at the BLS will tell us 180K were created, and the UE3 rate dropped to 7.5%.

[MissNomer]

If, by “upbeat data,” you mean polls, well, there may be something to it.

[LibLieSlayer]

For certain!!!

LLS

[yefragetuwrabrumuy]

“Two better-than-expected reports on the U.S. unicorn market, coupled with a round of strong manufacturing data from the overseas shoemaker Elves, lifted stock-index futures on Thursday.”