Stocks hold steady on economy optimism

  @CNNMoneyInvest December 9, 2013: 7:34 AM ET
sp 500 futures 710

Click on chart to track premarkets

NEW YORK (CNNMoney)

Stock markets were poised for a flat start Monday, as the market slows down following a better-than-expected jobs report.

U.S. stock futures were mixed ahead of the opening bell.

Marc Chandler, strategist for Brown Brothers Harriman, said investors seem undecided on the timing on when the Federal Reserve will pull back on its $85 billion a month bond purchasing. He said bonds did not sell off following the strong jobs report on Friday, so investors seem undecided as to whether the tapering is priced in, or whether it would have a sharp and immediate impact on markets beginning this month.

Friday's strong jobs report showed the U.S. unemployment rate fell to 7% -- the lowest level since November 2008 -- as more people said they were getting jobs and joining the labor force.

That followed Thursday's report showing much stronger third-quarter growth in the U.S. economy than previously reported. And there was more positive news for the global economy over the weekend in the form of the first major world trade deal in nearly 20 years.

Related: No news may be good news for stocks

Markets surged Friday after the jobs numbers came out, with the Dow Jones industrial average rallying by nearly 200 points.

Investors are also looking ahead to a big Monday merger: American Airlines and US Airways (LCC, Fortune 500) are set to come together to form the largest air carrier in the world. The combination of the two airlines is expected to create a company that's larger than the current industry leader, United Continental Holdings (UAL, Fortune 500).

Related: American Airlines, US Airways to form largest air carrier

On the corporate side, automotive tire retailer Pep Boys (PBY) is among the small number of firms scheduled to report quarterly earnings after the bell.

Related: Fear & Greed Index, still greedy

European markets were mostly higher in midday trading, while Asian markets ended with gains. Japan's Nikkei was a standout performer, rallying by 2.3% as the yen slipped against the U.S. dollar. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,408.54 -16.31 -0.10%
Nasdaq 4,095.52 9.29 0.23%
S&P 500 1,864.85 2.54 0.14%
Treasuries 2.72 0.08 3.19%
Data as of 12:44pm ET
Company Price Change % Change
Bank of America Corp... 16.15 0.00 0.00%
Facebook Inc 58.94 0.00 0.00%
General Electric Co 26.56 0.00 0.00%
Cisco Systems Inc 23.19 -0.02 -0.09%
Micron Technology In... 23.91 0.00 0.00%
Data as of Apr 17
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.36%4.24%
15 yr fixed3.39%3.26%
5/1 ARM3.36%3.27%
30 yr refi4.34%4.22%
15 yr refi3.38%3.24%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
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.