Futures trim gains after payroll report
Credit: Reuters/Lucas Jackson
A trader works on the floor of the New York Stock Exchange in the Manhattan borough of New York January 8, 2014.
* The payrolls report, due at 8:30 a.m. EST (1330 GMT), is expected to show the U.S. economy created 196,000 jobs in December, slightly lower than 203,000 in November; the unemployment rate is seen steady at 7 percent.
* Wall Street may be looking for a higher number as some forecasts were raised recently and the revised numbers were not included in the current mean estimate.
* S&P 500 futures rose 7 points and were above fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures rose 57 points and Nasdaq 100 futures added 20 points.
* Alcoa (AA.N) reported a massive quarterly loss on Thursday after recent declines in aluminum prices; its shares fell 7.5 percent in premarket trading.
* Sears Holdings Corp's (SHLD.O) shares fell 13.7 percent in light premarket trading a day after the retailer reported steep declines in comparable-store sales at its Kmart and U.S. namesake chain for the crucial holiday season.
* Shares of trucking company YRC Worldwide (YRCW.O) fell 20 percent in premarket trading a day after sliding 16 percent after workers represented by the Teamsters union rejected a contract extension that the company proposed, putting a plan to restructure its debt in jeopardy.
(Reporting by Rodrigo Campos; Editing by Bernadette Baum)
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