What you need to know before the US open
Nonfarm payrolls just came in stronger than expected. In February, 175,000 workers were hired.
Analysts had expected 149,000 jobs to be added. Some traders have begun pricing in an earlier date for a rate hike from the Fed on the back of the solid numbers.
The dollar has hit a six-week high against the yen on the news, and spot gold dropped 1.1 per cent.
Futures have climbed after the data, suggesting the S&P 500 will open 0.4 per cent up.
President Putin has rebuffed President Obama’s warning to act in a diplomatic way regarding the situation in Crimea.
Meanwhile, the Ukrainian prime minister has said the country will not recognise a Crimean referendum, set to be held on 16 March.
Corporate news
US medical devices company Biomet has filed today to raise up to $100m in an initial public offering.
China’s Juneyao Group, the parent company of Juneyao Airlines, is talking to Boeing and Airbus about acquiring more than 20 planes in a deal that could be worth $1.8bn.
An a privacy group has asked regulators in the US to stop Facebook’s $19bn takeover of Whatsapp until such time as there’s clearer understanding on what the online giant will do with the personal data of Whatsapp users.
Data in focus
- 3.00pm: US Jan consumer credit