Stocks Get Boost from Earnings Ahead of More Jobs Data with General Motors (GM) and Intel (INTC) on the move
Posted on May 03, 2012 at 08:01 AM EDT
First look... Stock futures were slightly higher this morning as investors digest earnings from General Motors (GM) and others, as well as weekly jobless claims and the outcome of a European Central Bank meeting. A report on private-sector hiring from payroll processor ADP came in weaker than expected on Wednesday. More bad news on the labor market could stoke fears that the U.S. is in for a repeat of last month's grim jobs report. But stocks have received some support of late from better-than-expected first-quarter corporate results. 68% of the S&P 500 companies that have reported so far have beat analysts' expectations. Asian shares mostly fell Thursday, as banks dragged on the Hong Kong market, although the Australian financial sect...(Click the story link or go to http://www.marketintelligencecenter.com for the full story)
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