Stocks head for gains after jobs report

premarketClick chart for more premarket data. By CNNMoney staff


NEW YORK (CNNMoney) -- U.S. stocks were poised to open the second quarter higher, following the government's stronger-than-expected jobs report -- one of the most closely-watched economic indicators on Wall Street.

The report showed a gain of 216,000 jobs in March -- easily topping forecasts. The unemployment rate dipped to 8.8% -- its lowest level in two years.

Investors were also digesting a new offer for the NYSE (NYX, Fortune 500) from Nasdaq (NDAQ) and ICE (ICE).

Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were higher ahead of the opening bell. Futures measure current index values against perceived future performance.

"The revival in U.S. economic growth is resilient enough to withstand the shocks that we've been hit with like higher oil prices and concerns out of Japan," said Lakshman Achuthan, managing director of the Economic Cycle Research Institute.

"Even if something new came along, it wouldn't necessarily just tank the economy," he said. "The markets are probably getting a sense that the first quarter was not a bad quarter."

On Thursday, U.S. stocks ended the day narrowly mixed, but stocks posted solid gains the first three months of the year, despite geopolitical turmoil in the Middle East and the March earthquake and nuclear crisis in Japan.

Companies: Nasdaq and IntercontinentalExchange offered $42.50 a share, or $11.3 billion, for NYSE Euronext, topping the bid from rival Deutsche Boerse by nearly 19%. Shares of NYSE rose 10% in premarket trading to $39.10. Nasdaq's stock fell 4%, while shares of ICE slid 2.5%.

Also, major automakers including General Motors (GM), Ford (F, Fortune 500) and Toyota (TM) will release their monthly sales reports after the start of trade.

Economy: Also on tap for Friday morning, the Institute for Supply Management's March manufacturing index and the Commerce Department's February construction spending report will be released at 10 a.m.

Economists expect the ISM manufacturing index to remain steady at a reading of 61.4, while construction spending is expected to fall by 0.7%.

World markets: Asian markets ended the session mixed. The Shanghai Composite rose 1.3%, and the Hang Seng in Hong Kong added 1.2%. But Japan's Nikkei eased 0.5%, after a report showed auto sales in the nation plunged 37% in March.

European stocks rose in midday trading. Britain's FTSE 100 rose 1%, the DAX in Germany gained 1.2% and France's CAC 40 edged higher 0.8%.

Currencies and commodities: The dollar rose against the euro, the Japanese yen and the British pound.

Oil for May delivery rose 76 cents to $107.48 a barrel.

Gold futures for June delivery slipped $15 to $1,424.60 an ounce.

Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.51% from 3.45% late Thursday.  To top of page

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.73%3.65%
15 yr fixed2.85%2.79%
5/1 ARM2.60%2.59%
30 yr refi3.72%3.64%
15 yr refi2.85%2.78%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
Index Last Change % Change
Dow 15,298.84 -8.33 -0.05%
Nasdaq 3,456.06 -7.24 -0.21%
S&P 500 1,649.26 -6.09 -0.37%
Treasuries 2.03 0.00 0.10%
Data as of 12:40pm ET
Company Price Change % Change
Bank of America Corp... 13.37 0.06 0.45%
Hewlett-Packard Co 24.18 2.95 13.87%
Micron Technology In... 11.30 0.38 3.53%
Microsoft Corp 34.38 -0.23 -0.66%
Ford Motor Co 14.92 -0.05 -0.33%
Data as of 12:25pm ET

Sections

Chrysler and Tesla spar over who has repaid help the automakers got from the federal government. More

New home sales up 2% in April, as the housing recovery continues to give a lift to the overall economy. More

Fan fiction, in which aficionados of existing books and movies write characters into new storylines, has long been popular fodder on Internet forums -- but stories based on copyrighted works are essentially impossible to sell. Amazon wants to change that with its new "Kindle Worlds" program. More

The Obamacare employer mandate forces businesses with 50-plus workers to provide insurance. But many keep getting that cutoff number wrong, saying it's 51. More

The tornado that struck the Moore, Okla., area Monday afternoon left an almost 2-mile wide path of destruction, flattening homes and businesses and taking at least 24 lives. More

Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2013 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2013 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2013. All rights reserved. Most stock quote data provided by BATS.