Morning Briefing: 10 Things You Should Know
NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, May 3:
1. -- U.S. stock futures were flat Friday as investors paused for the April nonfarm payrolls report that's expected to show that the jobless rate remains elevated and that job additions remained below 200,000.
"Overall, the tone of the report is expected to be one of continued, but not catastrophic, weakness," said Laura Rosner, a U.S. economist at BNP Paribas in New York, in a client note.
2. -- The economic calendar in the U.S. Friday includes the April nonfarm payrolls report.
Payrolls are expected to have increased by 145,000 jobs in April, according to a Reuters survey of economists, up from March's nine-month low of 88,000.
3. -- U.S. stocks on Thursday rallied as the European Central Bank lowered interest rates in a sign that policymakers are willing to take further actions to revive their moribund economies while investors embraced reports that showed improvement in U.S. employment.
The S&P 500 gained for the third time in four days, rising 0.94% to 1,597.59 while the Dow Jones Industrial Average rose 0.89% to 14,831.58 and the Nasdaq advanced 1.26% to 3,340.62.
4. -- LinkedIn
The Mountain View, Calif-based Internet company said it expects to post earnings before interest, depreciation and amortization of $77 million to $79 million, short of the estimates of $84.8 million. Sales were also less than expected, as the company forecast revenue for the current quarter between $342 million and $347 million, short of an average estimate of $359.7 million.
5. -- Insurance giant American International Group
Analysts were expecting earnings of 88 cents a share.
6. -- Duke Energy
Duke said adjusted earnings in the quarter were $1.02 a share; analysts were looking for $1.04 a share.
7. -- Madison Square Garden
8. -- Berkshire Hathaway's
The company's annual meeting , the "Woodstock for Capitalists" as Warren Buffett has said, will provide investors context on the strength of the U.S. and global economic recovery, while also giving shareholders an update on the direction of America's fifth-largest company by market capitalization.