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- Before the bell: Strong Payrolls may support stocks
Before the bell: Strong Payrolls may support stocks
Stocks were set to rally at Friday's open, after the government reported that the economy added 244,000 jobs in April, much better than expected.
The unemployment rate ticked higher to 9% from 8.8% but investors were clearly tuned into the top-line number. Economists were expecting the report to show that employers added only 185,000 jobs in the month and the unemployment rate to remain 8.8%.
Commodities: Oil, gold, and silver continued to slide Friday.
Just a week ago, silver prices were within spitting distance of breaching $50 an ounce. On Friday, silver futures for July delivery dropped $2.45, or 7%, to $33.80 an ounce.
Gold futures for June delivery fell $2.20 to $1,479.20 an ounce.
Oil for June delivery slipped $2.02, or 2%, to $97.78 a barrel, after plunging 8.6% to close below $100 a barrel Thursday.
Companies: After the closing bell Thursday, insurer giant AIG (AIG, Fortune 500) reported a loss from continuing operations of $1.41 per share for the first three months of the year, compared to a profit of $2.16 per share over the same period a year ago.
Shares of AIG were down 1.6% in premarket trade.
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