Stocks: Jobs, jobs, jobs!

Written By limadu on Jumat, 05 April 2013 | 05.32

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NEW YORK (CNNMoney)

U.S. stock futures were lower as investors waited nervously for results on the most important employment report of the month.

At 8:30 a.m. ET, the Labor Department will release the closely watched monthly jobs report for March. Economists surveyed by CNNMoney expect the report to show that the economy added 190,000 jobs in March, with the unemployment rate holding steady at 7.7%. The report follows a surprisingly negative weekly jobless claims report on Thursday.

The jobs number will provide a look at the strength of the recovery just days after San Francisco Federal Reserve Bank president John Williams said that if the economy improves, the central bank could start tapering its bond purchase program.

Also at 8:30 a.m. ET, the Census Bureau will release a report on the trade balance for February. At 3 p.m. ET, the Federal Reserve will release data on consumer credit.

Fear & Greed Index: Neutral

U.S. stocks closed higher Thursday amid a mixed bag of news from central banks around the globe, including the Bank of Japan's plan to pump more money into the Japanese economy and European Central Bank's announcement that it would keep rates unchanged.

In company news, shares of F5 Networks (FFIV) plunged in after-hours trading Thursday after the technology company announced preliminary quarterly results that fell well short of expectations on sales and earnings. This could impact other companies in the tech sector, like Cisco Systems (CSCO, Fortune 500), which dropped more than 2% in premarket trading, and Juniper Networks (JNPR).

In South Korea, Samsung Electronics beat market expectations with strong guidance, fueled by the upcoming new model of its Galaxy smartphone, and ahead of its impending quarterly report. The new Samsung product could present more competition to iPhone maker Apple (AAPL, Fortune 500).

Related: Bitcoins are a bubble

European markets fell in morning trading. The FTSE 100 in London, the DAX in Frankfurt and the CAC 40 in Paris dropped more than 1%.

Asian markets ended mixed. Japan's Nikkei added 1.6% as the BoJ-induced rally continued. The Nikkei reached its highest level in nearly five years on Friday, as the Bank of Japan took aggressive action to counter persistent deflation by pumping more money into the economy.

Hong Kong's Hang Seng tumbled 2.7%. Shanghai's market was closed for a holiday. To top of page

First Published: April 5, 2013: 6:57 AM ET


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