{"id":16208,"date":"2011-12-02T18:04:00","date_gmt":"2011-12-02T18:04:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wall-street-on-track-for-fantastic-week-on-employment-data\/16206\/"},"modified":"2011-12-02T18:04:00","modified_gmt":"2011-12-02T18:04:00","slug":"wall-street-on-track-for-fantastic-week-on-employment-data","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wall-street-on-track-for-fantastic-week-on-employment-data\/16208\/","title":{"rendered":"Wall Street on Track for Fantastic Week on Employment Data"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p>Wall Street is now heading for the best week since early 2009, based on jobs data released today. Investors pushed U.S. stocks higher on news the U.S. unemployment rate fell to a 2-1\/2 year low. However, they booked profits against technical resistance and before key events in Europe next week, putting a lid on gains.<br \/>\nRecent U.S. economic data has somewhat reassured investors. U.S. companies stepped up hiring and the jobless rate dropped to 8.6 percent from 9 percent, further evidence that the recovery was indeed gaining momentum.<br \/>\nThe <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> came within striking distance of its 200-day moving average, an important technical level, and briefly turned positive for the year before retracting back to a 0.88 percent decline.<br \/>\nFinancial shares were the biggest benefactors on the day with the S&amp;P financial index up 2.3 percent. JPMorgan Chase (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nyse\/today.aspx\">NYSE<\/a>:JPM) rose 8 percent to $32.90.<br \/>\nTraders are also looking ahead to next week&#8217;s European Central Bank meeting and a European Union summit, expected to illuminate plans to combat the escalating borrowing costs in euro zone countries and tackle the debt crisis. There is a rising expectation that this meeting will produce the beginning of a resolution that will allow greater fiscal unity among these nations and the groundwork for a resolution to the euro zone debt crisis. \u00a0However, given the track of events in recent weeks, traders are nonetheless cautious since expectations have been overly ambitious before.<br \/>\nThe <a href=\"https:\/\/thestockmarketwatch.com\/markets\/dowjones\/today.aspx\">Dow Jones<\/a> industrial average gained 30.61 points, or 0.25 percent, to 12,050.64. The Standard &amp; Poor&#8217;s 500 rose 4.18 points, or 0.34 percent, to 1,248.76. The <a href=\"https:\/\/thestockmarketwatch.com\/markets\/nasdaq\/today.aspx\">Nasdaq<\/a> Composite added 8.39 points, or 0.32 percent, to 2,634.59.<br \/>\nThe three major indexes were on track to post their largest weekly percentage advance since March 2009. Indexes had advanced more than 1 percent earlier in the day.<\/p>\n<p>Research In Motion warned Friday it would fall short of its financial targets after taking a huge charge to write down the value of its PlayBook tablet, and the BlackBerry maker&#8217;s shares tumbled. \u00a0U.S.-listed shares of Research in Motion Ltd (<a href=\"https:\/\/thestockmarketwatch.com\/markets\/nasdaq\/today.aspx\">NASDAQ<\/a>:RIMM) lost 8.8 percent to $16.95 after the BlackBerry maker said it will record a pretax charge to write down the value of its poorly received PlayBook tablet computer. \u00a0The stock hit a seven-year low of $15.98 last month.<\/p>\n<p>About a year ago, co-CEO Jim Balsillie said pent-up interest in the PlayBook was &#8220;really overwhelming.&#8221; Companies are looking for an equivalent of the iPad of corporate use, he said. Later in the spring, Balsillie said &#8220;The launch of the PlayBook may well be the most significant development for RIM since the launch of the of the first BlackBerry device back in 1999.&#8221; But when the tablet went on sale in April, reviewers puzzled over the lack of email software, saying the device seemed half-baked. RIM now promises updated software in February.<br \/>\nRIM said it expects earnings at the &#8220;low to mid point&#8221; of the $1.20 to $1.40 per share it previously forecast. Analysts polled by FactSet have on average been expecting $1.18 per share. The company expects revenue slightly the below the $5.3 billion to $5.6 billion in its previous forecast. Analysts had been expecting $5.27 billion, on average.<br \/>\nThe PlayBook charge comes as analysts have started to conclude that RIM&#8217;s management has no chance of really righting the ship. They&#8217;ve started to value the company not on its future prospects, but on how much it would be worth if acquired, broken up, or simply run down while keeping BlackBerry service going.<br \/>\nThe company is also taking a charge of $50 million for an embarrassing October outage of email and Web services that lasted days for millions of overseas BlackBerry users. It briefly spread to the U.S. and Canada before the company was able to contain the damage.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Google Inc rose 1.4 percent to $622.04 after the Wall Street Journal reported the Internet group was considering a service to help consumers shop online with one-day delivery service to cut the loss of Web traffic to Amazon.com Inc .<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/wall-street-on-track-for-fantastic-week-on-employment-data\/16208\"><br \/>\nWall Street on Track for Fantastic Week on Employment Data<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-rise-on-central-bank-action\/16034\"><br \/>\nStocks Rise on Central Bank Action<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/stock-futures-up-retail-stocks-rally\/15826\"><br \/>\nStock Futures Up, Retail Stocks Rally<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/stocks-fall-on-mixed-economic-data\/15637\"><br \/>\nStocks Fall on Mixed Economic Data<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/stalled-budget-talks-hurt-u-s-stocks\/15454\"><br \/>\nStalled Budget Talks Hurt U.S. Stocks<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/bad-news-for-sears-good-news-for-boeing\/15236\"><br \/>\nBad News For Sears, Good News for Boeing<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/retail-spending-boosts-economy-not-all-retailers-see-gains\/15144\"><br \/>\nRetail spending boosts economy; Not all Retailers See Gains<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n.<\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Meggan  <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street is now heading for the best week since early 2009, based on jobs data released today. Investors pushed [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[3],"tags":[],"class_list":["post-16208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/16208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=16208"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/16208\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=16208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=16208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=16208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}