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Stocks hold steady ahead of jobs report

Thursday, May 05, 2016 - 01:08

Stocks were little changed on Thursday despite an early really driven by higher oil prices. Bobbi Rebell reports.

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Wall street hit the pause button a day ahead of the jobs report. Stocks were little changed with the Dow barely edging higher. Weighing on the Nasdaq: Tesla. Analysts say the electric car maker's production target is too ambitious. IHT Wealth Management's Steve Dudash says don't buy Tesla shares. SOUNDBITE: STEVE DUDASH, PRESIDENT, IHT WEALTH MANAGEMENT (ENGLISH) SAYING: "I don't believe that it's worth the valuation that company's at right now. I don't believe the hype is justified. I don't think there's any chance they can hit their targets." U.S. regulators banned the sale of e-cigarettes and cigars to minors, and California hiked its legal age for smoking. Fitbit shares tumbled after the wearable device maker issued a weak profit forecast for the current quarter. Alibaba's quarterly profit and revenue surged higher as more mobile users bought products online off its e-commerce platforms. Shares rose. Weak news on labor the day before the government's jobs report. The number of Americans filing for jobless benefits rose last week, and layoffs surged in March. European shares edged higher, pulled up by telecom stocks. But the Paris' CAC-40 finished slightly in the red.

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Stocks hold steady ahead of jobs report

Thursday, May 05, 2016 - 01:08