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Stocks Mostly Up Pre-Bell Ahead of January Jobs Report; Asia Churns, Europe Falls
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Stocks Mostly Up Pre-Bell Ahead of January Jobs Report; Asia Churns, Europe Falls
Feb 7, 2025 4:51 AM

07:20 AM EST, 02/07/2025 (MT Newswires) -- The benchmark US stock measures were mostly in the green before the opening bell Friday as traders await the national employment situation report for January.

Standard & Poor's 500 and the Dow Jones Industrial Average were slightly in the green in premarket activity, while the Nasdaq edged lower. Asian exchanges were mixed to lower, while most European bourses were trending downwards midday on the continent.

The nonfarm payroll report for last month is scheduled for an 8:30 am ET release. Government data is expected to show that the US economy added 170,000 nonfarm jobs in January, which would mark a slowdown from the 256,000 gain posted for the month prior, according to a Bloomberg poll.

Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for February at 10 am, along with the preliminary wholesale inventories report for December. The weekly Baker Hughes domestic oil-and-gas rig count posts at 1 pm, followed by the Federal Reserve's consumer credit bulletin for December at 3 pm.

Fed Governor Michelle Bowman is slated to speak at 9:25 am, while Fed Governor Adriana Kugler speaks at 12 pm.

Shares of Amazon.com ( AMZN ) declined 3.2% pre-bell as the e-commerce giant's revenue outlook for the first quarter fell short of Wall Street's estimates. Pinterest ( PINS ) jumped 21% as the image-sharing platform posted better-than-expected sales for the fourth quarter. Elf Beauty ( ELF ) tumbled 27% as the cosmetics company lowered its full-year outlook.

Fortive ( FTV ) , Kimco Realty ( KIM ) , Avantor ( AVTR ) , Flowers Foods ( FLO ) , Newell Brands ( NWL ) and Frontier Group ( ULCC ) report their latest financial results early Friday, among others.

Before the opening bell, bitcoin rose 1.1% to $97,726, West Texas Intermediate crude oil increased 0.7% to $71.07 a barrel, yields on 10-year Treasuries inched 0.2 basis points lower to 4.44% and gold gained 0.5% to $2,892 an ounce.

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