Jobs Scene Helps Stock Futures Move Higher
Futures this morning are heading higher, with the Dow set to jump more than 60 points. Investors today are focusing on the jobs market, with weekly unemployment claims and private payroll data looking better than expected. The government jobs report for August is due out tomorrow.
The European Central Bank is also front and center, saying this morning that it will buy the bonds of ailing eurozone countries, with no limits.
In corporate news, Delta Air Lines has raised fares on many U.S. flights by up to $10 round trip. It remains to be seen if the fare hike will stick industry wide, because Southwest hasn’t responded yet. Since Southwest carries more passengers domestically than any other airline, it wields great influence over prices. Southwest increased fares just two weeks ago, and may be unlikely to do so again.
Ford (NYSE:F) is recalling 7,600 Escape SUVS from the 2013 model year for the third time. This time the problem is with a part installed incorrectly in the engine that could cause a fire. The Escape is one of Ford's top selling vehicles.
Wednesday brought a big win for Christian Louboutin -- the brand behind the pricey pumps with the red soles worn by many celebrities. An appeals court has ruled that the French shoe maker's distinctive red soles are entitled to trademark protection.