<strong>Trader</strong> Mark Muller, center, works on the floor of the New York Stock Exchange Wednesday, Oct. 3, 2012. Stocks are mostly higher in early trading on Wall Street Wednesday after a measure of private sector hiring came in better than economists were expecting.Richard Drew/The Associated Press
(Updated with payrolls data)
World markets were broadly higher, after U.S. jobs data showed unemployment at its lowest level since January, 2009, and the economy added 114,000 jobs.
The numbers for September helped soothe some concerns about the health of the world's largest economy. A Reuters survey earlier showed the consensus forecast at 113,000 new non-farm jobs. Unemployment fell to 7.8 per cent.
The real surprise, though, was the Canadian report, where 52,000 jobs were created. The consensus forecast had been for 8,500 new jobs to be added. The unemployment rate rose to 7.4 per cent.
And speaking of jobs, it's worth mentioning that it's been a year since Steve Jobs died -- and Apple Inc. shares are up more 75 per cent since then, despite concerns that the death of its visionary co-founder could derail growth.
Now, here's the rundown of what else you need to know before the trading day gets underway:
MARKETS:
Equities:
Futures: Dow +0.14 per cent, S&P 500 +0.11 per cent, Nasdaq +0.20 per cent
Hong Kong's Hang Seng index +0.50 per cent
Japan's Nikkei +0.44 per cent
London's FTSE 100 +0.46 per cent
France's CAC 40 +0.99 per cent
Germany's DAX index +0.74 per cent
Commodities:
WTI (Nymex Nov) -0.98 per cent at $90.81 (U.S.) a barrel
Gold (Comex Dec) -0.28 per cent at $1,791.40 (U.S.) an ounce
Copper (Comex Dec) -0.07 per cent at $3.78 (U.S.) a pound
Currencies:
Canadian dollar up 0.08, or 0.74 per cent, at $1.02 (U.S.)
THIS MORNING'S TOP INVESTING READS ON THE WEB:
Stock market ultra-bear Marc Faber says investors should brace for a major market drop ahead that will present a buying opportunity. Investor Jim Rogers says there already is opportunity from a falling market — in China.
What caught Wall Street's eye in Facebook's new advertisement made in conjunction with announcing it has reached 1 billion users? A phone.
An examination of whether Facebook hitting 1 billion users is a good thing or a bad thing for investors.
Hedge fund manager Daniel Loeb built a major position in distressed Greek government bonds in September. His bet paid off.
If history holds, stocks should rise in the fourth quarter, says Mark Hulbert.
Wal-Mart is in many ways the "deflation retailer" which outperforms when money is afraid of a deflation pulse and volatility is increasing. Right now, the Wal-Mart indicator is telling bulls to be careful.
The platinum/gold ratio is showing there continues to be deep concerns about the economy.
David Einhorn is shorting Chipotle on the basis that Taco Bell and its new Cantina Bell menu is going to lure away customers. Felix Salmon of Reuters put that theory to the taste test, and begs to differ.
Why investors' biggest mistake is excessive caution.
How to avoid the next Hewlett-Packard value trap.
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