STOCKS/ECONOMY
-Stock futures are higher after Thursday's 428-point loss for the Dow, larger 1.8 percent selloff for the S&P 500, and a 2.6 percent steep drop for the Nasdaq. Investors are responding now to a weaker than expected February jobs report.
-That jobs reports came in showing 151,000 net new jobs created. 170,000 net new jobs was the number Wall Street was expecting. The unemployment rate rose to 4.1 percent.
-The yield on the 10-year Treasury bond is at 4.24 percent.
-Gold is at the $2,920 per ounce level. Bitcoin is at the $89,600 level.
-Asian markets closed lower today, led by a 2.2 percent selloff for the Nikkei. The Hang Seng fell 0.6 percent and the Shenzhen dropped 0.5 percent.
-China’s exports rose 2.3 percent in February, badly missing expectations of a 5 percent increase as U.S. tariffs took their toll.
OIL/ENERGY
-U.S. crude prices are up but still only at the $67 a barrel level.
-Gasoline prices are at $3.10 a gallon, national average.
-Treasury Secretary Scott Bessent says the U.S. will collapse the Iranian economy by sanctioning its oil industry.
EARNINGS SCORECARD
-Gap (GAP) reported better than expected quarterly profits and revenues, and also posted a 3 percent gain in same-store sales when only a 1 percent gain was expected. Gap shares are surging 16 percent in the premarket.
-Costco (COST) reported weaker than expected revenues. Its shares are down 2 percent in the premarket.
-Broadcom (AVGO) reported better than expected quarterly profits and revenues, and issued strong forward guidance on demand for custom chips. Its shares are up 9 percent in the premarket.
-Server maker Hewlett Packard Enterprise (HPE) issued weak current quarter and full year guidance. Its shares are down 17 percent in the premarket.
CLOTHING CASH
-Land's End (LE) announced that its board is considering new alternatives, including putting itself up for sale. Its shares are up 11 percent in the premarket.
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