Futures extend declines after January jobs data

U.S. stock index futures extended losses on Friday after the Labor Department revised some past employment numbers lower, suggesting job growth could significantly slow this year.

Although U.S. job growth accelerated in January, the report showed the economy created 514,000 fewer jobs between April 2018 and March 2019 than originally estimated.

Dow e-minis were down 135 points, or 0.46%. S&P 500 e-minis were down 14.5 points, or 0.43% and Nasdaq 100 e-minis were down 49.25 points, or 0.52%.

Uber (UBER.US) stock rose 6.0% to its highest level since August after CEO Dara Khosrowshahi predicted the company would make an underlying operating profit for the first time by the end of the year, about a year earlier than the company had previously guided.

AbbVie (ABBV.US) stock rose 3.1% after the company gave an upbeat forecast for profit this year, citing the successful launch of two new drugs that should ease concerns about the future revenue stream from its blockbuster drug Humira.

Pinterest (PINS.US) stock rose 18.7% to its highest since October, after a surge in online shopping generated a 46% increase in revenue in the fourth quarter. The company’s guidance for $1.52 billion in revenue this year also surpassed expectations.

 Trader Milko Zashev

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