Asia Futures Flat, Europe Rallies Ahead Of Jobs Report

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By Douglas A. McIntyre Published
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Asia shares were mixed, but Europe rallied on an ongoing hope the debt situation there will be resolves. US unemployment numbers are due today

The Nikkei was up .54% to 8,644. The Hang Seng rose .2% 19,040.

In Europe, near the open, the FTSE 100 was sharply up 1.76% to 5,583. The DAX rose 1.46% to 6,125. Shares in banks continued to rise as it appears there may be some resolutions to the sovereign debt crisis, although EU region unemployment numbers and PMI were poor.

According to MarketWatch, “European stock markets shot higher at the start of trading on Friday, with banks and miners leading the gains.”

The US jobs report, due at 8.30 AM EST is expected to show an addition of 125,000 new jobs, and improvement, but still an anemic one. Earlier data from ADP said the private sector added 206,000 jobs last month.

Even if 125,000 new jobs were created last month, it is not enough to fill the hold created by the huge monthly layoffs of the recession.

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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