U.S. equities are climbing ahead of the ever-important December Unemployment data scheduled to be released ahead of the opening bell. Experts are eyeing 194K new jobs created last month which would close 2013 as the strongest year of job growth since the recession. The December unemployment rate is targeted to remain at the 7% threshold to validate workforce stability.
Alcoa (AA) officially kicked off earnings season last night with great disappointment sending shares down 6% pre-market. Analysts are hoping the news isn’t a leading indicator to the health of the broader market with several key companies scheduled to release next week including Bank of America (BAC) and Wells Fargo & Co. (WFC).
Japan’s Nikkei gave up 2.3% this week while European equities just hit a 5 year high thanks to strong consumer data. China has officially replaced the United States as the new leader in global trade after topping $4 trillion in 2013. Gold Futures (/GC) and Oil futures (/CL) are both holding firm ahead of the employment figures.
Stock Stories:
Sears (SHLD) –Clearance Rack! – Shares of the retailer are plunging 13% after reporting dismal holiday figures while guiding lower on significant losses expected for 2014.
Target (TGT) –Not Again! – The company just announced a new data breach that may have affected over 70 million customers on top of the already troubling credit card hack. Shares are down 2% after the discovery.
Major Economic Reports:
7:30 am CT– Jobs Report
9:00 am CT– IBM Economic Optimism
9:00 am CT– Wholesale Inventories
