Futures trading suggests that the DJIA, the S&P 500, and the Nasdaq Composite all will open between flat to 0.1% higher.
The overriding story from the US over the first quarter has been the unusually harsh winter weather, which has led to a string of disappointing macroeconomic data and heavily downgraded earnings expectations for corporate earnings over the period. Most recently, the first reading of US GDP released on Wednesday indicated that the bitter weather almost stopped the economy dead in its tracks, with a print of just 0.1%.
The market is looking for activity to pick up now that the first quarter has finished, with the April US jobs report next up. The consensus expectation for 210,000 jobs to be added over the month, up from 192,000 in March. The headline unemployment rate is expected to tick down to 6.6% in April, from 6.7% in March.
First quarter US earnings continue to be in focus, with Chevron amongst the big names reporting Friday. The oil major is expected to announce earnings per share of
The results will follow
"The energy sector has been one of the best performing this year as investors have moved away from technology and other growth sectors," said
Pfizer may be back in focus following the news that it has had its increased bid for
Pfizer will now have to either increase its offer further, walk away, or proceed with a hostile takeover attempt by approaching the
Pfizer shares are little moved in US pre-market trading, while
In the forex market, the dollar is a little firmer heading into the jobs number, although major pairs remain in a tight range. The pound is off the multi year high made on Thursday, currently trading at
US factory orders data is also still to come Friday at
Most Popular Stories
- National Retail Federation Reduces Sales Forecast
- Hispanic Leader Goes the Extra Mile
- Xavier Gutierrez Appointed to Bank Board
- Ted Cruz: Why Did FAA Ban Flights to Israel?
- Honda' s Accord Plug-in Hybrid Is a Fuel Miser
- Morgan Stanley Ponies Up $275 Million to Settle SEC Charges
- Stop-Start Engines Save Gas, Reduce Emissions
- Risks of Layoffs Becoming Rarer in U.S.
- Long-term Strengths Emerge in U.S. Economy
- Weekly Jobless Claims Drop to Lowest Level in 8 Years