US Stocks: Thursday's midday trade

05 Oct, 2007

US stocks were little changed on Thursday as investors paused before Friday's key employment report that could shed light on the economy and the outlook for interest rates and corporate profits.
In the latest earnings news, hotel operator Marriott International Inc reported a lower profit and forecast future earnings below Wall Street expectations, sending it shares 4.8 percent lower at $42.18.
The Labour Department report, due on Friday morning, is expected to show employers added 94,000 jobs outside the farm sector last month, according to economists polled by Reuters. In August employers unexpectedly cut 4,000 jobs. "It's one of the premiere indicators as far as the health of our economy goes, so that could have a substantial impact on the markets, on what the (Federal Reserve's) going to do going forward and on the dollar," said Tom Schrader, managing director of US equity trading at Stifel Nicolaus Capital Markets.
The Dow Jones industrial average was up 4.23 points, or 0.03 percent, at 13,972.28. The Standard & Poor's 500 Index was up 2.61 points, or 0.17 percent, at 1,542.20. The Nasdaq Composite Index was up 3.98 points, or 0.15 percent, at 2,733.41.

Read Comments