Nov. 8 Premarket Briefing: 10 Things You Should Know
NEW YORK ( TheStreet) -- Here are 10 things you should know for Friday, Nov. 8:
1.-- U.S. stock futures were indicating a positive start for Wall Street on Friday ahead of a key U.S. jobs report.
European stocks were trading lower early Friday. Asian shares ended the session with losses. Japan's Nikkei 225 index declined 1% and the Shanghai Composite fell 1.1%. China's communist leaders are meeting this weekend in Beijing where they are expected to lay out their long-term plan for the world's No. 2 economy.
2.-- The economic calendar in the U.S. Friday includes the nonfarm payrolls report for October at 8:30 a.m. EST, personal income and personal spending for September at 8:30 a.m., and the Michigan Sentiment Index for November at 9:55 a.m.
3.--U.S. stocks on Thursday fell the most in a month as soft consumer spending growth in the third quarter raised questions about the overall strength of the economic recovery.
The S&P 500 fell 1.3% to 1,747.19 while the Dow Jones Industrial Average declined 0.97% to close at 15,594.49. The Nasdaq fell 1.9% to close at 3,857.33.
5.-- Media and entertainment giant Walt Disney
Net income rose 4% to $1.4 billion, or 77 cents a share, from $1.2 billion, or 68 cents, a year earlier. Analysts were expecting earnings of 76 cents a share. Revenue jumped 7.3% to $11.6 billion, exceeding Wall Street forecasts of $11.4 billion.
Disney's Media Networks group posted a 1% increase in revenue to $4.9 billion while the Park & Resorts group reported an 8% gain in sales to $3.7 billion. Even Disney's film studios, hit last quarter by the poor box office showing of "The Lone Ranger," grew 7% to $1.5 billion.
Boeing issued the warning hours after senior members of the International Association of Machinists union were reported to voice opposition to a proposed labor contract that is due to go to a membership vote next Wednesday, according to Reuters.