US stock futures erase gains after disappointing jobs report

“U.S. stock index futures turned lower on Friday, after the government’s crucial non-farm payrolls jobs report came in below expectations,” Katy Barnato reports for CNBC.

“The government reported the creation of 113,000 jobs in January versus expectations of 185,000,” Barnato reports. “On Thursday, both the Dow Jones Industrial Average and the S&P 500 posted their biggest one-day percentage gains of the year, after data showed weekly unemployment claims fell more than expected last week, suggesting an improving labor market.”

“Companies worth watching include Apple, after Wall Street Journal reported it had repurchased $14 billion worth of its own stock following disappointing results,” Barnato reports. “Frankfurt-listed Apple shares traded 2.3 percent higher early on Friday.”

Read more in the full article here.

Related article:
Apple buys back $14 billion shares in two weeks – February 6, 2014

7 Comments

  1. Well done that man! Tim Cook,
    wait for the share price to drop then buy your own shares back thus beating down that man who thinks he cahn.
    Some more of that please!

  2. The jobs report has always been highly political and has been changed over the year to conform to the political needs of various players. Only politicians could eff up something as simple as a head count of people needing employment.

    A similar report that is manipulated is the inflation rate. I remember a tool on CNBC saying that ex-energy, ex-housing, ex-transportaion and ex-food there was no significant inflation in the economy with a straight face. Nobody on CNBC reminded him that most people spend the majority of their take home income on just those things.

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