Stock futures up despite weak jobs report

February 7, 2014: 9:17 AM ET
NEW YORK (CNNMoney)

Investors may brush off a disappointing jobs report Friday and send the market higher.

U.S. stock futures rose ahead of the opening bell, even though the government said only 113,000 jobs were created in January. The unemployment rate came in at 6.6%.

Economists surveyed by CNNMoney expected the U.S. economy to have added 178,000 jobs, and the unemployment rate to remain unchanged at 6.7%.

Some economists had warned that a weak jobs report could be expected due to unusually cold weather in January.

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U.S. stocks rallied Thursday, with the Dow Jones Industrial Average and S&P 500 logging their biggest gains of the year. Investors were encouraged after fewer-than-expected Americans filed for unemployment benefits last week.

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LinkedIn (LNKD) shares sank in premarket trading after the professional networking site reported issued disappointing guidance.

News Corp (NWS) shares rose following quarterly earnings that beat expectations.

Shares of Outerwall Inc. (OUTR), which produces Redbox and Coinstar dispensers, surged nearly 10% on news that the company plans to buy back $350 million worth of stock.

Shares rose for ArcelorMittal (MT) after the steel and mining company reported a narrower-than-expected quarterly loss.

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European markets were mostly higher in morning trading.

Asian markets ended the week with gains. The Nikkei in Japan was a standout performer, advancing by 2.2% Friday. The index is on the rebound after losing 11.2% since the beginning of 2014.

Markets
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Index Last Change % Change
Dow 17,804.80 26.65 0.15%
Nasdaq 4,765.38 16.98 0.36%
S&P 500 2,070.65 9.42 0.46%
Treasuries 2.18 -0.03 -1.27%
Data as of 5:45pm ET
Company Price Change % Change
Bank of America Corp... 17.62 0.09 0.51%
General Electric Co 25.62 0.48 1.91%
Apple Inc 111.78 -0.87 -0.77%
Intel Corp 36.37 -0.65 -1.76%
Microsoft Corp 47.66 0.14 0.29%
Data as of 4:04pm ET