REUTERS/Mario Anzuoni
- Markets in Asia were mixed in overnight trading. The Japanese Nikkei jumped 1.6 percent on the back of BoJ stimulus but the Hong Kong Hang Seng fell 2.7 percent. At one point, Japan had been up by over 4%. European markets are deep in the red, with Germany down 1.8 percent. In the United States, futures point to a negative open.
- The story of the day is the jobs report in the United States. Nonfarm payrolls rose only 88,000 in March versus the 190,000 expected by market economists. The unemployment rate ticked down to 7.6 percent, but the labor force participation rate also fell – to 63.3 percent, its lowest level since May 1979.
- The selloff in Hong Kong came as the death toll in Shanghai from a new strain of bird flu mounted to six on Friday. Live poultry markets will be shut down across Shanghai starting Saturday and will remain closed indefinitely. Meanwhile, North Korea is seen as dragging all Asian markets down.
- Euro zone retail sells fell 0.3 percent in February after a 0.9 percent rise in January. The drop was slightly better than the 0.4 percent decline predicted by market economists. Year over year, sales fell 1.4 percent.
- German factory orders rose 2.3 percent in February following a 1.6 percent decline in January. Economists were expecting a lesser, 1.1 percent advance. Year over year, non-seasonally adjusted orders were flat versus a 2.1 percent decline in January and expectations for a 1.5 percent decline in February.
- The German DAX got slammed this morning with a big sell order around 5:45 AM ET. Stifel Nicolaus strategist Dave Lutz says, "Futures were having a nice morning till around 5:45AM, when almost $1.4B printed in DAX and ESTOXX futures – knocking the DAX off almost 2%, and taking US futures down 50bp. No headlines associated, but no recovery when Germany’s Factory Orders printed better (despite bearish chatter)."
- U.S. Treasury yields have now hit their lowest levels of the year. The 10-year yield is down to 1.75 percent on the heels of a good start to April for the government bonds.
- MF Global bankruptcy trustee Louis Freeh filed a 174-page report in court late Thursday, laying much of the blame for the firm's demise in 2011 on former CEO Jon Corzine. The report could influence settlement negotiations between Corzine and private customers of MF Global who lost deposits when the firm went under.
- In addition to the BLS report, U.S. trade data are out at 8:30 AM ET. Economists predict the trade deficit ticked wider to $44.6 billion in February from $44.4 billion in January.
- February consumer credit data, out at 3 PM ET, are the final release of the day. Economists predict that credit expanded by $15 billion in February after a $16.15 billion rise in January. Follow all of the data releases LIVE on Business Insider >
- BONUS: Police responded to a call that there were armed intruders at Rihanna's house – but it was bogus (she was "swatted").
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