08:00 am Joe Block: Morning Briefing 10-3-2014 U.S. stock futures are bouncing this morning ahead of the closely watched U.S. nonfarm payrolls report. SP futs currently +11, dow futs +78. European stocks rose despite downbeat economic indicators. Asian shares finished the session mostly higher. The economic calendar in the U.S. on Friday includes the nonfarm payrolls report for September at 8:30 a.m. EDT. Economists surveyed by Reuters expect companies added 215,000 workers to payrolls last month, up from 142,000 in August. The jobless rate is expected to remain at 6.1%. Other economic data on Friday include the trade balance for August at 8:30 a.m., and the ISM Services index for September at 10 a.m. U.S. stocks on Thursday finished flat after trading in a holding pattern throughout Thursday as investors await the governments nonfarm payrolls report for September on Friday. The Dow Jones Industrial Average finished sideways at 16,801.05. The S&P 500 was unchanged at 1,946.17. The Nasdaq was up just 0.18% to 4,430.19. JPMorgan (JPM) said the personal data of about 76 million retail customers and 7 million business customers was compromised in a security breach that the bank first disclosed this summer. The data breach includes customers names, addresses, phone numbers and email addresses. JPMorgan, in a filing with the Securities and Exchange Commission, said there is no evidence that sensitive financial information such as bank account numbers, social security numbers or user IDs were compromised as a result of the breach. The Firm continues to vigilantly monitor the situation and is continuing to investigate the matter. In addition, the Firm is fully cooperating with government agencies in connection with their investigations, JPMorgan said in a statement on Thursday.. Salix Pharmaceuticals (SLXP) and Italys Cosmo Pharmaceuticals said they have terminated their merger agreement, a deal that was structured as a so-called inversion, because of a changed political environment. Salix, the drug developer and medical device maker, reached a deal in July to merge with the Irish subsidiary of Cosmo which would allow it to move its tax domicile to Ireland. The U.S. government has taken actions to try to curb inversion deals. The changed political environment has created more uncertainty regarding the potential benefits we expected to achieve, Salix CEO Carolyn Logan said in a statement on Friday. The Wall Street Journal previously reported that Allergan (AGN) was looking for a tie-up with Salix as a way to block Valeant Pharmaceuticals (VRX) bid for Allergan. Charles Schwab (SCHW) has dropped the Pimco Total Return Fund from its 10 target date funds and collective trusts, a company spokeswoman told Reuters. The firm completed its review of the fund this week following the announcement last Friday that Bill Gross, Pimcos co-founder and manager of the fund, was leaving to join Janus Capital (JNS) . The retail target date funds have $2.9 bi
Posted on: Fri, 03 Oct 2014 12:34:42 +0000
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