By Oliver Gray
Investing.com - U.S. stock futures were slightly higher in early APAC deals on Monday, after all three major benchmark indices closed Friday’s session at fresh record highs as a better than expected October jobs report and reopening optimism coupled with strong corporate earnings reports bolstered investor sentiment.
During Friday’s regular session, The Dow Jones Industrial Average rose 203.72 points, or 0.6%, to 36,327.95. The S&P 500 gained 0.4% to 4,697.53 for its seventh consecutive session of gains. The Nasdaq Composite edged up 0.2% to 15,971.59. All three major averages reached their respective record closing highs. For the week, The Dow rose 1.4%, the S&P 500 gained 2% and the Nasdaq rallied 3%.
Dow Jones 30 Futures gained 0.04%, S&P 500 Futures added 0.27% and Nasdaq 100 Futures was up 0.09%.
Among stocks, Pfizer (NYSE:PFE) shares surged 10.86% as reports of its new, easy-to-administer Covid-19 pill fueled hopes for a smoother economic reopening. The company also noted that its Covid-19 drug, used with an HIV drug, cut the risk of hospitalization by 89%. Peloton Interactive Inc (NASDAQ:PTON) dipped 35.35% after the fitness platform and maker of interactive treadmills and exercise bikes reported a much larger loss than expected. Meantime, Berkshire Hathaway Inc (NYSE:BRKa) closed little changed after reporting double-digit increase in its operating profit as its businesses benefited from the economic reopening while noting that supply chain disruptions have boosted prices for materials and freight.
Among data, nonfarm payrolls for the month of October totaled 531,000, beating analyst’s expectations of a 450,000 increase. The report also revised September’s disappointing number up to 312,000 job gains from 194,000 previously, and increased its August number by a similar amount.
On the bond markets, United States 10-Year rates fell to 5-week lows of 1.455%.