U.S. Morning Call: Stock futures lower ahead of jobs report
Friday, May 03, 2013 - 04:02
May 3 - U.S. stock futures slightly lower ahead of crucial April jobs data expected to show an increase in payrolls
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Morning call for Friday and the most important thing on the agenda today is the US jobs report. Employers around the country likely added more jobs in April after slowing to a nine month low in March. The unemployment rate expected to remain the same at seven point 6% that's a four year low. Does every job with me in the US economy is picking up pace. Well 145000. Jobs sounds like a lot but still falls well short of the number of jobs needed to confidently say the US economy is back on its feet. And it cast a wider net and look at other data points such as construction spending and retail sales they seem to suggest that growth has been slowing down. Economists are also divided on the impact government spending cuts may have had a employment. Sensing a minor hit arguing that the government has been reducing hours for workers instead of resorting to outright layoffs. But others say there have been job losses industries such as defense -- contracting. When the sectors hit hardest by the sequester. Whichever way the wind blows with job markets will likely follow. Wall Street not too optimistic before the open and as you -- stock futures are slightly lower. Stuck in general though making a recovery this week. Lipper data shows investors pored over six billion in equity funds -- rebound from the prior -- outflows of nearly seven billion dollars. Warrant is in the house and so are some 35000. Shareholders. They're all descending on Omaha Nebraska for this week's annual meeting of Berkshire Hathaway. That's where oracle is expected to share has been for the company including more mega mergers -- that 23 billion dollar acquisition of times this year. But they also talk about newspaper buying spree but 28 -- over the last year and a half for 344. Million dollars. Among the spectators will be Doug Kass of sea breeze partners to maintain the short position on Berkshire shares. Cast have been a longtime critic of the company's slowing growth and of Buffett's advanced -- And all of it inside of our coverage an annual GAAP and our interview with the oracle himself. Hasn't stocks to watch. Linked in putting at a disappointing revenue forecast suggesting that revamped mobile app and other new products may not deliver quick -- growth. The stock is down 9% premarket -- nearly 70%. For the year. Canaccord JPMorgan in BMO unfazed by the forecast. They're raising their price target on the stock this morning. Barnes & Noble trying to make its -- tablets more appealing to consumers by offering access to Google App Store. The -- will bring a number of apps on the -- to 750000. From about 101000. That's it certainly help -- compete with Apple's iPad and Amazon's Kindle. Shares of Barnes & Noble up nearly 20% this year. And just in time for Saturday's Kentucky Derby fancy hats and mint julep recipes. American whiskey to Stiller beam was the first quarter starting block will be strong on soundly beating Wall Street earnings expectations. Net income rose to 114. And a half million or 71 cents per share. A false start helped make the iconic maker of high and Bergen. Sales of its top shot maker's mark a key ingredient in the classic sort 44% after the company announced while our makers alcohol content. Because of the limited supply of whiskey. Thirsty bird tonight and distortion out of the company reversed its call. That's good for your Friday morning -- never follow us on Twitter at let it inside there and get -- great -- at twitter.com. Slash later. And the third time.
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