U.S. Stocks Plummet in Reaction to Friday's Non-Farm Payrolls Data 04/09 09:06 AM 09:06 AM EDT, 04/09/2012 (MidnightTrader) -- U.S. stock market futures were indicated to open sharply lower on Monday, with the Dow sinking over 100 points as the U.S. markets had their first chance to react to last Friday's weak nonfarm-payrolls data. On Friday, when U.S. markets were closed in observance of Good Friday, the Labor Department reported that a meager 120,000 jobs were created in March; in the last three months the U.S. has created 200,000 or more jobs, a trend that economists expected would continue.
Equity markets were closed for the Good Friday holiday, but stock futures and the dollar fell sharply after the Labor Department's non-farm payrolls data release. Analysts surveyed by MarketWatch had expected the release would show the U.S. added 210,000 jobs in March. The shortfall has since raised major questions regarding the strength of America's economic recovery.
There is no data on the calendar for today. Federal Reserve Chairman Ben Bernanke is due to deliver a speech from Stone Mountain, Georgia, as part of a conference organized by the Federal Reserve Bank of Atlanta.
Commodities are lower in Monday's pre-market session. Crude-oil futures fell sharply, and were down 1.7%, to $101.58 a barrel. Gold for June delivery rose $11.70, or 0.7%, to $1,641.90 an ounce.
U.S. PRE-MARKET INDICATORS
-Dow Jones Industrial down 0.91%
-S&P 500 futures down 1.08%
-Nasdaq 100 futures down 1.00%
-Nasdaq-100 Pre-Market Indicator down 0.74%
GLOBAL SENTIMENT Nikkei down 1.47% Hang Seng down 0.95% Shanghai Composite down 0.90%
FTSE-100 up 0.35%
DAX-30 down 0.13%
PRE-MARKET SECTOR WATCH
(-) Large cap tech: lower
(-) Chip stocks: lower
(-) Software stocks: lower
(-) Hardware stocks: lower
(-) Internet stocks: lower
(-) Drug stocks: lower
(-) Financial stocks: lower
(-) Retail stocks: lower
(-) Industrial stocks: lower
(-) Airlines: lower (-) Autos: lower UPSIDE MOVERS (+) LLY, (+1.26%) Receives FDA Approval for Amyvid
(+) AOL, (+30.89%) To Sell Over 800 Patents to Microsoft
(+) WOLF, (+6.53%) Gets $7/Share Proposal from KSL Capital After Apollo Hikes Offer
DOWNSIDE MOVERS
(-) AVP, (-1.79%) Appoints New CEO
(-) HOGS, (-8.93%) U.S. Regulators Accuse Company of Insider Trading
(-) LUV, (-2.41%) Subsidiary Air Tran Announces Fare Sale
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