Wall Street opened fractionally higher (SPY +0.1%) after a report from the U.S. Labor Department showed U.S. employers maintained a strong pace of hiring in October and boosted wages for workers. The September Trade Deficit narrowed to $36.44 billion, crude prices are falling and the US dollar is steady.
Here is the current market situation from CNN Money
Thursday's Key Earnings
Activision Blizzard (NASDAQ:ATVI) -5.5% with weak holiday guidance.
CBS (NYSE:CBS) on early explorations of a Viacom merger.
Chesapeake Energy (NYSE:CHK) +1.7% after a surprise Q3 profit.
EOG Resources (NYSE:EOG) +1.8% AH posting a smaller quarterly loss.
FireEye (NASDAQ:FEYE) +13.1% AH after Q3 soared over predictions.
GoPro (NASDAQ:GPRO) -18.8% AH as production issues hurt results.
Las Vegas Sands (NYSE:LVS) +3.1% AH improving Macau figures.
Kraft Heinz (NASDAQ:KHC) -1.2% AH following a dip in sales.
Starbucks (NASDAQ:SBUX) +1.4% AH on Q3 beat and dividend boost.
Twilio (NYSE:TWLO) +3.4% AH after topping expectations.
Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
(Reuters) - U.S. stocks index futures pared losses on Friday after a report from the U.S. Labor Department showed U.S. employers maintained a strong pace of hiring in October and boosted wages for workers.
(Reuters) - Samsung Electronics , which is already reeling from a global recall of its Note 7 smartphones, said it would recall about 2.8 million of its top-load washing machines in the United States to address safety concerns.
ORLANDO, Fla. (Reuters) - Federal Reserve rate increases over the next two years will be "very" gradual amid expected steady growth and stable job gains, Atlanta Federal Reserve President Dennis Lockhart said on Friday.
(Reuters) - Tronc Inc Non-Executive Chairman Michael Ferro agreed on Friday there was a possibility of striking "a different type of deal" with fellow newspaper publisher Gannett Co , days after merger talks between the companies fell apart.
(Reuters) - Taco Bell Corp, a unit of Yum Brands Inc , said on Friday it would open 9,000 restaurants in the United States by the end of 2022, creating 100,000 new jobs, just four days after its parent completed the spin-off of its China unit.
DUBAI/LONDON (Reuters) - Old disputes between Saudi Arabia and rival Iran resurfaced at a meeting of OPEC experts last week, with Riyadh threatening to raise oil output steeply to bring prices down if Tehran refuses to limit its supply, OPEC sources say.
LONDON (Reuters) - Oil futures were on course for their sixth straight day of falls on Friday as signs of tensions resurfaced between Saudi Arabia and Iran that could scupper a key supply cut pact while a surge in U.S. crude inventories and muted demand continued to weigh.
Follow OPEC's blame-mongering statement earlier today -"observers should not be quick to judge or criticize" the organization - it appears mutiny is occurring within the cartel as OPEC sources report Saudi Arabia threatening to "steeply raise" output following Iran's refusal to cap output. WTI is tumbling on the news, testing towards a $43 handle.
OPEC blames analysts for exposing the cartel's impotence:
At OPEC, we remain deeply optimistic about the possibility that the Algiers Agreement will be complemented by precise, decisive action among all producers — the kind of action that we need in order to see prices supported and short-term volatility avoided.
In the meantime, industry observers should remember that they should not be too quick to judge or criticize the Organization or its Member Countries. Over the years, we have seen how wildly inaccurate their predictions have been.
What many of them have failed to recognize is that OPEC's great strength is its global reach and its diversity. Its great value is found in the continuing willingness of its Member Countries to confer, consult and coordinate actions if and when necessary.
As the years have passed and the market has evolved, the importance of OPEC's role has, in fact, only increased — proving all those unfortunate nay-sayers wrong once more.
But what really hit oil this morning was Reuters reporting:
OPEC SOURCES SAY SAUDI ARABIA HAS THREATENED TO STEEPLY RAISE OIL OUTPUT AT MEETING OF OPEC EXPERTS LAST WEEK AFTER IRAN REFUSED TO CAP OUTPUT
SAUDI HAS THREATENED TO STEEPLY RAISE OIL OUTPUT AT MEETING OF OPEC EXPERTS LAST WEEK AFTER IRAN REFUSED TO CAP OUT ...
In an presidential election campaign that has had virtually every possible surprise, only one thing was missing: a terrorist attack.
Alas, even that may be on the horizon because as CBS News reported moments ago, the news station has learned about a potential terror threat for the day before the election: "Sources say U.S. intelligence has alerted joint terrorism task forces that al-Qeada could be planning attacks in three states for Monday.
CBS adds that it is believed New York, Texas and Virginia are all possible targets, though no specific locations are mentioned.
A senior FBI official told CBS News, ""The counterterrorism and homeland security communities remain vigilant and well-postured to defend against attacks here in the United States. The FBI, working with our federal, state and local counterparts, shares and assesses intelligence on a daily basis and will continue to work closely with law enforcement and intelligence community partners to identify and disrupt any potential threat to public safety." During holiday seasons and when big events are approaching, intelligence about potential threats always increases.
While CBS tried to moderate the warning by noting that the "sources stress the intelligence is still being assessed and its credibility hasn't been confirmed, but counterterrorism officials were alerted to the threat out of abundance of caution", such a threat may lead to a depressed turnout in these three states and potentially impact the outcome of the presidential election.
There were two surprises for the pound Thursday. The first was the High Court decision that the government can't invoke Article 50. The second, arguably more substantive element was a change in tack from the Bank of England.
U.K. stocks are falling Friday, still feeling the pinch from sterling strength after the U.K. government lost a Brexit-related court ruling, keeping the FTSE 100 on course for its worst week in ten months.
The U.S. added 161,000 new jobs in October and the unemployment rate fell below 5% again, reflecting a tight labor market that's forced firms scrambling to fill open positions to increase pay at the fastest pace since 2009.
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