“I think a lot of innovation comes from smaller companies, this will be an even bigger trend in the future,” says Fibrocell CEO Pernock, whose own company is focused on treatments for skin diseases and conditions.
Breakfast Bites: Equities are mixed this morning as hiring increased more than forecast in October
Lower Manhattan remains a ghost town on this the 3rd day of the markets reopening after the historic 2 day closure. There remains no subway service to lower Manhattan and power is out south of 39th street. To say coming down here this morning was surreal is an understatement
Employers added 171,000 jobs in October, while the unemployment rate inched up to 7.9 percent, according to the Labor Department. Economists polled expected non-farm payrolls rose by 125,000.
September U.S. Factory orders came in at 4.8% vs. consensus 4.7%
Restoration Hardware (RH) came public again after privatization, pricing 5.2 million shares at $24. The opening print was $32.05
Ahead of the Bell: Dow futures are trading down 4 points and S&P futures are trading down 2 points. Expectations of a strong reading from the non-farm payroll data due at 8:30 am this morning, bolstered by better than expected ADP private sector employment report, and ISM manufacturing index in the previous session is driving investor optimism. Economists are forecasting the private sector created 125K jobs last month compared with 114K in September.
Factory Orders for September will be out after the market opens and it is expected to be -5.2 % versus 4.9 % for August. San Francisco Federal Reserve Bank President, John Williams will be speaking to a Fed Community Leaders Luncheon in Salt Lake City.
The dollar is up against the euro and the British pound and down against the Japanese yen.
Gold is trading at $1,708.
Crude oil is currently trading at $88 a barrel.
Yesterday, stocks advanced on better than expected ADP...
NYSE Euronext recognizes weather anchors and meteorologists Sam Champion, Bill Evans and Lee Goldberg of ABC; John Elliott and Lonnie Quinn of CBS and Chris Cimino and Al Roker of NBC, along with their partners behind the camera, for their tireless work to keep tri-state area residents informed during Hurricane Sandy. NYSE Euronext commends these individuals, who together rang the NYSE Closing Bell on November 1, 2012.
Stocks rallied today, after positive reports on the economic front helped boost investor sentiment on the second session of the week, following the devastating storm which caused U.S. markets to close on Monday and Tuesday.
The number of Americans that filed for jobless benefits fell by 9,000 last week to a seasonally adjusted 363,000. As a result of Hurricane Sandy, the Labor Department had to estimate results for New Jersey and Washington D.C., as the two states were unable to hand in data.
Manufacturing showed some improvement in October, according to ISM, but remained soft. The ISM manufacturing index rose two-tenths on the month to 51.7. This topped the consensus number for 51.5.
October consumer confidence improved to a reading of 72.2, up from 68.4 in September, but down compared to the expected 74.0. This is the highest in more than four years.