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For May 11, 2015, here are your stock futures, top market news, earnings reports, pre-market movers, and stocks to watch in the stock market today…
U.S. stock futures for Monday, May 11, forecasted a two-point increase from Friday's close.
On Friday, The DJIA Index surged more than 260 points as a strong April jobs report suggested the U.S. economy is gaining steam. The news could press the Federal Reserve to provide a clearer timeline for when it might raise interest rates.
Top News in the Stock Market Today
- The Stock Market Today: Investors should keep an eye on earnings reports from Rackspace Hosting Inc. (NYSE: RAX), Actavis Inc. (NYSE: ACT), Dean Foods Co. (NYSE: DF), and Molycorp Inc. (NYSE: MCP).
- Jobs Report: The markets soared after the U.S. Commerce Department announced the economy added 228,000 jobs and that the April unemployment rate hit 5.4%. Economists had expected U.S. job levels to have increased by 224,000 last month after the jump of just 126,000 in March. The unemployment rate is at a seven-year low (May 2008), which could push the Federal Reserve to consider its first hike in interest rates since 2006. The U.S. labor participation rate is still a worrisome 62.8%.
- Oil Prices Today: Oil prices were on the rise this morning as optimism grew over the future of U.S. shale production. WTI crude gained 0.2% to hit $59.51 per barrel. Meanwhile, Brent oil slipped 0.5% this morning to hit $65.09 per barrel.
Pre-Market Movers in the Stock Market Today: DISH, ROSE, NBL, ZU
- Pre-Market Movers 1, DISH: Shares of Dish Network (Nasdaq: DISH) were on the rise this morning, gaining 0.2%, on news the satellite company saw a 3.6% gain in quarterly revenues thanks to a boost in per-user revenues. The firm said that it lost roughly 134,000 users in the first quarter, but was able to offset those losses by boosting individual user revenues.
- Pre-Market Movers 2, ROSE: Shares of Rosetta Resources (Nasdaq: ROSE) were up more than 34% on news that Noble Energy Inc. (NYSE: NBL) announced plans to purchase the company for roughly $2.1 billion. The deal will give Noble an entry into the Eagle Ford Shale field and the Permian Basin oil and gas region in Texas. Suppressed energy prices are favoring firms looking to expand operations.
- Pre-Market Movers 3, ZU: Shares of Zulily (Nasdaq: ZU) jumped more than 20% on news that Alibaba Holding Group Ltd. (NYSE: BABA) has purchased a 9% percent stake in the online retailer.
Stocks to Watch Today: AAPL, CRM, MSFT
- Stocks to Watch No. 1, AAPL: Shares of Apple Inc. (Nasdaq: AAPL) slipped 0.2% this morning as the company approaches its ex-dividend date on May 14. The company will disperse roughly $2.7 billion to shareholders of record. The May dividend payment will be the fourth of its kind since Apple announced a seven-for-one stock split. During its April 27 earnings call, the company said that it would hike its quarterly dividend from $0.47 to $0.52.
- Stocks to Watch No. 2, CRM: Shares of Salesforce.com (NYSE: CRM) slipped nearly 3% on news that Microsoft Corp. (Nasdaq: MSFT) has denied rumors that it is considering a takeover of the cloud software maker.
Today's U.S. Economic Calendar (all times EST)
- Labor Market Conditions Index at 10 a.m.
- 4-Week Bill Announcement at 11 a.m.
- 3-Month Bill Auction at 11:30 a.m.
- 6-Month Bill Auction at 11:30 a.m.
What Investors Must Know This Week
- Apple Inc. (Nasdaq: AAPL) Headed for $1 Trillion Market Cap
- Why the OPEC Oil Cartel Is Losing the Energy War
- How to Make More Money in the Markets Starting Today
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.