Morning Update: Employment Numbers Miss

First Look

U.S. stock futures are up ahead of the bell Friday. Employment numbers came in significantly under expectations, with a gain of 75,000 in May after consensus estimates of 185,000. Negotiations between the U.S. and Mexico regarding tariffs and border security continue this morning after the Mexican Foreign Minister made concessions late yesterday that may help placate the American side. The yuan is down overnight after Chinese government officials continued to take a bellicose stance ahead of weekend trade talks with Treasury Secretary Steven Mnuchin. The Nasdaq is up 0.36%, the S&P 500 is up 0.29%, the Dow Jones is up 0.28%.

Today's market outlook is Neutral

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Stocks on the Move

Helmerich & Payne, Inc. (HP), Iron Mountain Inc (IRM) and Schlumberger Limited. (SLB) are moving higher this morning, while PPL Corp (PPL), Arista Networks Inc (ANET) and Skyworks Solutions Inc (SWKS) are headed lower. Glu Mobile Inc. (GLUU), WP Carey Inc (WPC) and Schlumberger Limited. (SLB) were upgraded by analysts this morning, while Michaels Companies Inc (MIK), Texas Capital Bancshares Inc (TCBI) and Mammoth Energy Services Inc (TUSK) were downgraded.

International Markets

Stocks in Asia are mixed. The Australia ASX All Ordinaries is up 0.91%, the Nikkei 225 is up 0.53%, the Mumbai Sensex is up 0.22% the Hang Seng is up 0.19% and the Shanghai SE Composite Index is down -1.17%. In Europe stocks are up. The CAC 40 is up 1.42%, the Euro Stoxx 50 is up 1.03%, the FTSE 100 is up 0.77% and the DAX is up 0.63%.

Futures and Currencies

Energy futures are up today. The price for West Texas Intermediate crude oil is up 0.60 at 53.19 per barrel. Brent crude is up 0.81 at 62.48 per barrel. Natural Gas is up 0.01 at 2.33. Precious metals are down this morning. Gold is down -2.90 at 1339.8 per ounce. Platinum is down -2.93 at 801.83 while silver is down -0.05 at 14.90. The dollar is mixed compared to the major currencies today. The greenback is up against the euro, up against the Yen and down against the Pound.

Put/Call Ratio

Yesterday, 862,138 call contracts traded on the Chicago Board Options Exchange (CBOE) compared to 588,704 put contracts. The single-session put/call was 0.68 while the 20-day moving average is now at 0.69.

Earnings Expected Today

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  • Last Price:
    $293.66
  • Previous Close:
    $294.00
  • Day's Range:
    $293.47 - $294.58
  • 52-week Range:
    $296.31 - $233.76
  • Last Price:
    $267.17
  • Previous Close:
    $267.10
  • Day's Range:
    $267.10 - $267.91
  • 52-week Range:
    $269.28 - $216.97
  • Last Price:
    $188.16
  • Previous Close:
    $188.15
  • Day's Range:
    $188.06 - $188.72
  • 52-week Range:
    $191.32 - $143.46

Today's Economic Calendar

What's Happening Period Release Time
Nonfarm Payrolls May 08:30
Avg. Hourly Earnings May 08:30
Unemployment Rate May 08:30
Average Workweek May 08:30
Wholesale Inventories Apr 10:00
Consumer Credit Apr 15:00

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