Stock futures waver after blowout jobs report

|By:, SA News Editor

Stock futures fluctuate following the blowout monthly jobs report that showed the U.S. economy adding 321K jobs last month, crushing expectations; Dow and Nasdaq +0.1%, S&P flat.

The report sparks more speculation that the Fed may be inclined to raise rates sooner than had been expected; this appears to be behind the slide in Treasury prices, with the 10-year yield up 7 bps at 2.30% and three-and-a-half year highs in some short-term Treasury yields.

Investors received another batch of retail earnings, with American Eagle, Big Lots and Five Below offering disappointing results and/or guidance, but Gap is on track for a higher open after reporting better than expected same store sales for November.

Still ahead: factory orders, consumer credit

Subscribe for full text news in your inbox