5 Things You Should Know Before the Stock Market Opens
NEW YORK (TheStreet) -- U.S. stock futures were pointing lower Friday ahead of the release of the U.S. jobs report for April.
Economists are calling for nonfarm payrolls to have risen by 162,000 last month, according to Briefing.com, up from 120,000 in March. Excluding the impact of government employment changes, nonfarm private payrolls are being placed at 167,000. The unemployment rate is seen at 8.2%.
The jobs report is scheduled for release at 8:30 a.m. EDT.
European shares were slipping, taking their lead from Asian stocks which finished with losses on Friday.
Hong Kong's Hang Seng fell 0.8% to 21,086 and South Korea's Kospi lost 0.3%. Markets in Japan were closed for a public holiday on Friday.
Facebook, which is gearing up for the biggest ever tech initial public offering, could raise as much as $13.6 billion from its offering, according to documents filed with the Securities and Exchange Commission on Thursday.
The social networking giant amended its S-1 filing, detailing an anticipated price range of $28 to $35 a share.
Facebook estimated that net proceeds from the sale of its common stock will be about $5.67 billion, assuming an IPO price of $31.50 a share, which is the midpoint of its price range, and the sale of roughly 180 million shares.
LinkedIn(LNKD) posted better-than-expected first-quarter results, as revenue at its biggest unit more than doubled.
LinkedIn reported earnings of 15 cents a share on revenue of $188.5 million for the March-ended period.
Analysts polled by Thomson Reuters were expecting earnings of 9 cents a share on revenue of $178.58 million. Sales at Hiring Solutions, its biggest segment, soared 121% to $102.6 million. It accounted for 54% of revenue, up from 49% a year earlier.
Yahoo!(YHOO) brushed off the distortion in CEO Scott Thompson's education credentials as an "inadvertent error."