Friday, October 06, 2006

Stock Futures Fall Before Jobs Data

Source: Reuters

U.S. stock index futures slipped on Friday as traders refrained from taking new positions before September employment data, which is likely to be a key factor in the Federal Reserve's interest rate policy.
In deal news, wireless tower company Crown Castle International Corp. (CCI.N: Quote, Profile, Research) on Friday said it agreed to acquire smaller rival Global Signal Inc. (GSL.N: Quote, Profile, Research) for about $5.8 billion in cash, stock and debt.

Employers added 125,000 jobs in September, down from 128,000 in the previous month, economists estimated, although many may expect a sharper decline since Wednesday when the ADP National Employment index of private-sector employers came in well below estimates.

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