Stocks edge higher after jobs report

  @CNNMoneyInvest October 22, 2013: 8:55 AM ET
u.s. stock futures, premarket

Click the chart for more premarket data.


It's all about the jobs report.

U.S. stock futures edged slightly higher Tuesday as investors digested a lackluster September jobs report, which was delayed because of the federal government shutdown.

The report showed that the economy gained 148,000 jobs last month, far fewer than the 183,000 economists were expecting. The unemployment rate ticked down to 7.2%, the lowest November 2008.

The weak numbers suggest that the U.S. economic recovery remains fragile, and the Federal Reserve will likely maintain the pace of its massive stimulus program, which entails $85 billion in bond purchases each month, for a bit longer.

Improvement in the jobs market is a vital factor for the Fed's decision to begin tapering, or scaling back its bond buying program. Most economists forecast the central bank won't begin tapering until 2014.

However, because the September report wasn't affected by the shutdown, it may not have the same impact on the Fed's thinking as October's report.

U.S. stocks finished mixed Monday.

Related: Fear & Greed Index, back to extreme greed

Earnings keep rolling in: Netflix (NFLX) shares surged nearly 10% after the company reported strong quarterly earnings and issued a rosy outlook.

Delta (DAL, Fortune 500) shares also jumped in premarket trading after the airline reported quarterly profit growth, compared to the year-ago quarter.

DuPont (DD, Fortune 500) reported slightly better quarterly earnings, boosted by a lower tax rate and growth in certain areas of business including electronics and communications.

Coach (COH) posted earnings and sales that missed forecasts, led by a drop in domestic sales. The one bright spot was China, where sales jumped 35%.

Lockheed Martin (LMT, Fortune 500) shares rose after the aircraft manufacturer reported a jump in quarterly profit, year over year, and increased its full-year outlook.

Tablet-palooza: Apple (AAPL, Fortune 500) will be in the spotlight in the afternoon, when it hosts an event at which it is expected to unveil a new version of the iPad.

Nokia (NOK), which is being bought by Microsoft (MSFT, Fortune 500), earlier Tuesday unveiled its first full-size tablet and a pair of big-screen colorful Lumia smartphones.

Related: $300 million price tag for Obamacare site

Global markets were relatively subdued Tuesday. European markets diverged, with U.K. stocks edging up, while indexes in France and Germany slipped. Asian markets were also mixed, with stocks in Hong Kong falling after a weak earnings report from heavyweight China Mobile, while Japan inched higher. To top of page

Join the Conversation
Sponsored by
Index Last Change % Change
Dow 16,501.65 0.00 0.00%
Nasdaq 4,148.34 21.37 0.52%
S&P 500 1,878.61 3.22 0.17%
Treasuries 2.69 0.00 0.07%
Data as of 5:09am ET
Company Price Change % Change
Facebook Inc 60.87 -0.49 -0.80%
Bank of America Corp... 16.34 -0.03 -0.18%
Microsoft Corp 39.86 0.17 0.43%
Verizon Communicatio... 46.28 -1.15 -2.42%
Micron Technology In... 26.16 -0.09 -0.34%
Data as of Apr 24
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.24%4.32%
15 yr fixed3.25%3.36%
5/1 ARM3.27%3.37%
30 yr refi4.28%4.31%
15 yr refi3.30%3.34%
View rates in your area
Find personalized rates:
Rate data provided
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: © 2014 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 © 2014 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. 2014. All rights reserved. Most stock quote data provided by BATS.