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Good morning! Stock market futures for Friday, Dec. 5 forecast a 40-point increase from yesterday's close, which saw the Dow slip 0.07% to end a three-day winning streak. The market turned downward on weaker-than-expected weekly jobless claims and news that the European Central Bank will wait until January to decide on new stimulus action.
Today, investors will react to this morning's jobs report, which revealed the U.S. economy added 321,000 jobs in November – the biggest monthly gain since 2012. More data this morning showed the U.S. unemployment rate slipped to 5.8%, falling in line with consensus expectations. In November, private payrolls added 321,000 non-farm jobs, far outpacing consensus expectations of 225,000.
Here's what else you should know about the stock market today – including Money Morning's "Tip of the Day":
- Coffee in the Black: Shares of Keurig Green Mountain Inc. (Nasdaq: GMCR) slipped more than 1.1% on news the coffee firm plans to purchase the outstanding 85% share of MDS Global Holding (Bevyz) it doesn't already own. The all-cash transaction will cost $220 million. The deal adds the Bevyz's single-portion, hot-or-cold multidrink machine to Keurig's range of products. Earlier this year, Keurig announced a partnership with The Coca-Cola Co. (NYSE: KO) to create a cold-beverage machine to compete with SodaStream Int'l. Ltd. (Nasdaq: SODA). GMCR stock was up slightly at 0.1% Friday morning.
- Retail's Rough Ride: Shares of Gap Stores Inc. (NYSE: GPS) jumped more than 3.3% in post-market hours Thursday on news of stronger same-store sales in November. Sales increased 6% in Gap stores and more than 10% at Old Navy locations. Thursday was otherwise a bad day for retailers after multiple weak earnings reports. Shares of Express Inc. (NYSE: EXPR) slipped nearly 9% on poor earnings and a slashed profit outlook. Guess Inc. (NYSE: GES) also fell more than 9%, and Aeropostale Inc. (NYSE: ARO) stock plummeted more than 22%.
- Now Selling Diapers: In another twist to the company's pursuit of e-commerce dominance, Amazon.com Inc. (Nasdaq: AMZN) announced plans to launch its own line of diapers. The retailer's private brand Amazon Elements Diapers and Baby Wipes went on sale Thursday. This is the second launch this week that pitted the firm against branded rivals – and one of several new ventures in 2014. On Wednesday, AMZN launched its own food delivery service to compete against GrubHub Inc. (NYSE: GRUB).
About the Author
Garrett Baldwin is a globally recognized research economist, financial writer, and consultant with degrees from Northwestern, Johns Hopkins, Purdue, and Indiana University. He is a seasoned financial and political risk analyst, with a focus on stocks, hedge funds, private equity, blockchain, and housing policy. He has conducted risk assessment projects for clients in 27 countries, and consulted on policy and financial operations for some of the nation's largest financial institutions, including a $1.5 trillion credit fund, a $43 billion credit and auto loan giant, as well as two of the largest Wall Street banks by assets under management.
Garrett joined Money Map Press as an economist and researcher in 2011, specializing in alternative strategies with an emphasis on fundamental and technical analysis.