Stock Market Story: Nov. 2
NEW YORK ( TheStreet) -- Stocks were rising Friday after the U.S. added jobs in October. It's the last jobs report ahead of Tuesday's presidential election.
The Dow Jones Industrial Average was climbing more than 13 points, or 0.1%, to 13,246.
Nonfarm payrolls in October rose 171,000 as the unemployment rate ticked slightly higher to 7.9%, from the prior month's 7.8%. The unemployment rate was in line with expectations, according to Briefing.com, but above the forecast for 125,000 new jobs.
Breadth within the Dow was slightly positive, with winners beating losers 16 to 14.
Chevron (CVX) posted third-quarter earnings Friday of $2.69 a share; analysts expected a profit of $2.83 a share. The company was the biggest loser on the index as shares shed 1.3%.
Travelers shares were declining for a third straight day as investors anticipated some fallout for the insurance company in the aftermath of Hurricane Sandy, which pummeled the East Coast on Monday and Tuesday. Shares were off 1.1%.
Advancers and decliners were effectively split on the Big Board, while decliners edged advancers by a 1.2-to-1 ratio on the Nasdaq. Volume was at 374.1 million on the New York Stock Exchange, as it hit 200.8 million on the Nasdaq.
September factory orders to rose 4.8%, which was a turnaround from the 5.2% August decline that resulted from a large drop in aircraft orders.
The FTSE 100 in London was adding 0.10%, while the DAX in Germany was adding 0.44%. Asian markets posted gains Friday after the Bank of Japan left interest rates unchanged at zero to 0.1%. Japan's Nikkei average rose 1.17% overnight to close at 9051. Hong Kong's Hang Seng rose 1.33% to 22,111.
Gold for December delivery was dropping $19.90 to $1,695.60 an ounce at the Comex division of the New York Mercantile Exchange, while December crude oil contracts were shedding $1.08 to $86.01 a barrel.
The benchmark 10-year Treasury was sinking 9/32, boosting the yield to 1.757%. The dollar was up 0.61%, according to the U.S. dollar index.
Coffee giant Starbucks (SBUX) reported earnings Thursday after the closing bell and the company beat analysts' expectations by a penny and hiked its fiscal 2013 forecast on ambitious growth plans. The company lifted its quarterly dividend by more than 20%.
Starbucks CEO Howard Schultz announced his endorsement for President Barack Obama in the U.S. presidential race, as he said the president had shown significant leadership deserving of re-election.