U.S. stock futures traded mixed Friday after the government reported non-farm payrolls fell by 125,000 in June, while the unemployment rate fell to 9.5%. After rising 70 points right after the data, futures for the Dow Jones Industrial Average were off 28 points at 9,634.00. Those for the S&P 500 were down 3.80 points at 1,018.00. Nasdaq 100 futures fell 2.25 points to 1,725.75.
Miners and automakers helped European shares climb from multi-week lows on Friday, although gains were limited ahead of key U.S. jobs data.
Asian markets ended mixed in choppy trading Friday as investors remained cautious ahead of U.S. jobs data and on deepening concerns of an economic slowdown.
Investors Real Estate Trust /zigman2/quotes/203424196/composite IRET +1.87% was cut to sell from neutral by Janney Capital Markets on the likelihood of the company cutting its dividend before the end of fiscal 2011.
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Total job growth dropped in June for the first time this year as a quarter million temporary census workers were laid off, the Labor Department said Friday. Private sector payrolls expanded by a modest 83,000 in June, lower than the 115,000 gain expected by economists surveyed by MarketWatch. The unemployment rate dropped to 9.5% in June from 9.7% in the previous month. This is the lowest level since July 2009. There was a sharp 652,000 decline in the labor force in June. Economists had expected the unemployment rate to remain steady. Average hourly earnings were flat in June.
The number of unemployed workers across the 16-nation euro zone ticked higher in May, but the unemployment rate remained at a 12-year peak of 10% for a third consecutive month, the European Union statistics agency Eurostat reported on Friday.
U.K. power firm Chloride Group said Friday that it will accept an offer from Emerson Electric /zigman2/quotes/200181610/composite EMR +2.89% of 375 pence in cash for each Chloride share. The board of Chloride said that it has withdrawn its recommendation of ABB's /zigman2/quotes/201477239/delayed CH:ABBN -0.10% 325 pence per share offer. Emerson lifted its offer earlier in the week and ABB said Thursday that it wouldn't match that offer
French drugmaker Sanofi-Aventis /zigman2/quotes/206928357/delayed FR:SAN -0.09% /zigman2/quotes/201967021/composite SNY -0.62% is mulling an acquisition in the U.S. that could be worth at least $20 billion, Bloomberg reported on Friday, citing people familiar with the situation. The firm declined to comment on the report, the news service said. Shares lost 2.2% in Paris trading.
AES Corp. /zigman2/quotes/209256253/composite AES +3.97% is buying a 1,246 megawatt power plant in Northern Ireland from BG Group for 99 million pounds ($150 million), according to a statement from BG. Ballylumford power station is the largest electricity generation site on the island of Ireland, BG said.
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