January 17, 2022

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US futures are falling;  Recruitment data under the microscope by Benzinga Spain

US futures are falling; Recruitment data under the microscope by Benzinga Spain

Pre-opening: US futures are down; Employment data in focus

US stock futures were trading ahead of the open moves in the red in early trading before entering the market ahead of the November key employment report. Investors are waiting for earnings results from hibit (NASDAQ: HIBB), a lot (NYSE 🙂 Y Genesco (NYSE: GCO).

The US employment report for November is expected at 8:30 ET. Analysts expect nonfarm payrolls to rise 545,000 in November, after rising 531,000 the previous month. The unemployment rate could drop from 4.6% to 4.5%. Meanwhile, the US Services PMI for November will be released at 9:45 ET. Factory orders data for October and the ISM services index for November will be released at 10:00 ET.

Industrial rate futures fell 71 points to 34,551, while the Standard & Poor’s 500 futures contract was down 12.50 points to 4,563.25. Index futures also fell 55 points to 15,933.50.

The United States remains the country with the highest number of coronavirus infections and deaths in the world, with the total number of infections exceeding 4,971,820 and nearly 806,390 deaths. India has reported nearly 34615,750 confirmed cases, while Brazil has registered more than 22,118,780 cases.

Oil prices were trading higher, on a day when oil futures rose 2.7% to trade at $71.52 a barrel, and US futures rose 2.8% to $68, $34 a barrel. The US Energy Information Administration (EIA) said Thursday that US natural gas supplies fell by 59 billion cubic feet last week. Last week’s North American Oil Rig Count report developed by Baker Hughes will be released at 1:00 PM ET.

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International Markets Overview European markets were trading higher today. The Spanish index rose 0.3%, with the index advancing 0.1%. That from France rose 0.2%, while Germany advanced 0.4% and London improved 0.2%. The IHS Markit Eurozone Services PMI was revised to 55.9 in November from an initial reading of 56.6. IHS Markit’s French Services PMI rose to 57.4 in November from 56.6 the previous month, while industrial production rose 0.9% in October. The French government’s budget deficit rose to 171.6 billion euros in the January-October 2021 period, compared to 159.9 billion euros in the same period last year. The German Services PMI fell to 52.7 in November from an initial estimate of 53.4. Spain’s services PMI rose to 59.8 in November from 56.6 last month, while Italy’s services PMI rose to 55.9 in November from 52.4 the previous month.

Asian markets were mixed during today’s session. Japan’s index rose 1%, Hong Kong’s index fell 0.09%, and China’s Shanghai Composite added 0.94%. Australia’s S&P/ASX 200 Index is up 0.22%, while India’s BSE Index is down 1.3%. IHS Markit India’s services PMI fell to 58.1 in November from 58.4 in October, while China’s general services PMI fell to 52.1 in November from 53.8 the previous month. Japan’s services PMI was revised to a 27-month high of 53 in November, while the Hong Kong PMI in Hong Kong jumped to a three-month high of 52.6. The Australian IHS Markit Services PMI rose to 55.7 in November from an initial reading of 55, while the construction PMI fell to 57 in November.

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UBS Analysts Recommendation (SIX 🙂 downgraded from DocuSign, Inc. (NASDAQ: DOCU) from buy to neutral and lowers target price from $350 to $170.

This company was trading at a discount of 32% to $158.92 in the pre-market period.

Breaking news

  • CEO Tesla Corporation (NASDAQ:NASDAQ 🙂 Elon Musk has sold another 934,091 shares worth about $1.01 billion to meet his tax obligations, according to US Securities and Exchange Commission (SEC) filings. Musk also exercised options to buy 2.1 million shares in the automaker at $6.24, according to one of the filings.
  • Ulta Beauty, Inc. (NASDAQ:NASDAQ 🙂 reported better-than-expected third-quarter results and raised its forecast for fiscal 2021.
  • Zumiez Inc. (NASDAQ:ZUMZ) posted better-than-expected earnings for the third quarter.
  • DiDi Global Inc. announced. (NYSE: DIDI) that its board of directors has authorized the company to initiate proceedings to remove the company’s shares from the New York Stock Exchange (NYSE). However, the company has announced plans to file for an exit from its Class A common stock to the Main Board of the Hong Kong Stock Exchange.

Read the article also in Benzinga Spain