Looking Ahead to Friday's MarketNovember 1, 2012 @ 4:35 PM EST
Quick Recap of Thursday’s Session:
Stocks finished significantly higher on Thursday. Major indices started the day gaining and never looked back after a few positive economic data points lifted sentiment. China’s PMI moving back above 50 for the first time in five months, an improvement in the ADP Employment Report, stabilization in Weekly Jobless Claims, and a better than expected ISM Manufacturing figure were all factors in Thursday’s rallying. Stocks pulled back modestly in the afternoon, but picked up steam into the close to finish right near their best levels of the day.
S&P 500 +1.09%, NASDAQ +1.44%, DJIA +1.04%, Midcaps +2.36%.
Looking Ahead to Friday:
- Overnight we get Markit PMI – Manufacturing from Spain, Italy, France, Germany, and the Eurozone, as well as CIPS Construction PMI from the U.K.
- Before the bell here in the U.S. is the always-important Nonfarm Payrolls report, as well as Unemployment Rate.
- Also before the bell are a couple of high profile earnings announcements from Chevron (CVX) and Hess Corp (HES).
- Shortly after the open we get Factory Orders at 10:00am EST.
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