Trader Talk
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- S&P 500 Down — But Not By Much
- EU Finance Ministers Won't Get Fooled Again
- Why Is Market So 'Tired' With Good News?
- What Exactly Have Greeks Agreed To?
- A Greek Deal, but What Is the Deal?
- No Greek Debt Deal? No Problem! (Maybe)
- Irish Finance Minister Causes Draghi's Worst Nightmare
- Caesars' Wild Open
- Forget the Incredible Shrinking Greek Politicians—It’s Draghi Time!
- Trading Day Has Lots of Moving Parts
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Jobs Report Caps a Week of Positive Econ Numbers
CNBC Reporter
S&P futures popped 10 points on nonfarm payrolls. August nonfarm payrolls, at minus 54,000, much better than expectations of a loss of 120,000, private payrolls up 67,000, also better than a gain of 44,000 expected. Also helping futures: a large revision to July, now a loss of 54,000 jobs, down from an earlier estimate of a loss of 131,000 jobs.
Average hourly earnings were triple expectations to 0.3 percent.
Yield on the 10-year Treasury has backed up to 2.755 from 2.622 percent yesterday.
More outflows from equity mutual funds this week. Another $5 billion, according to AMG. That follows $4.6 billion and $9.1 billion of outflows from the previous two weeks. $1 billion inflows into bond funds. Again.
Elsewhere:
1) Campbell Soup [CPB
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] Q4 earnings were inline with estimates. Sales were a bit light ($1.52 billion vs. $1.59 billion) and margins fell slightly as a result of greater promotional spending. Soup sales in the U.S. continued to struggle, falling 5 percent—offsetting strength in its beverage unit (sales up 12 percent).
For the current fiscal year the company just started, Campbell is expecting earnings of $2.59-$2.64 (shy of $2.65 consensus) on sales growth of 2 percent to 3 percent (vs. 2.3 percent consensus).
2) H&R Block [HRB
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] rises 4 percent after Q1 losses were narrower than expected (loss of $0.36 vs. loss of $0.41) as cost cuts brought some relief to the tax preparer's bottom line. Costs fell 5 percent, but not helping the country's labor situation, the company reduced its staffing by selling 127 offices last quarter.
3) Walgreen [WAG
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] reported August same-store sales rose 2.1 percent, led by a 2.9 percent rise in comparable pharmacy sales. Despite fewer flew cases of the flu and negative impact on sales from lower-priced generic drugs, the drugstore benefited from more prescriptions being filled. Same-store sales of general merchandise, however, rose a meager 0.7 percent as traffic fell 0.8 percent.
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- S&P 500 Down — But Not By Much
- EU Finance Ministers Won't Get Fooled Again
- Why Is Market So 'Tired' With Good News?
- What Exactly Have Greeks Agreed To?
- A Greek Deal, but What Is the Deal?
- No Greek Debt Deal? No Problem! (Maybe)
- Irish Finance Minister Causes Draghi's Worst Nightmare
- Caesars' Wild Open
- Forget the Incredible Shrinking Greek Politicians—It’s Draghi Time!
- Trading Day Has Lots of Moving Parts












