Good morning. Here's what you need to know.
- Asian markets were mixed in overnight trading, and India's Nifty briefly fell 15.5 percent below Thursday's close and closed down 0.7 percent. Europe is rallying and U.S. futures are higher after the jobs report.
- Nonfarm payrolls came in line with estimates at 114K, but the unemployment rate tumbled to 7.8 percent. And last month's number was revised upward to 142K from 96K.
- Samsung reported at quarterly profit of $7.3 billion, driven by sales of high-end TV's and smartphones.
- Zynga slashed its earnings and bookings forecast for the rest of the year and now expects a net loss between $90 million and $105 million. The stock is down over 19 percent in pre-market trading. Now here are 42 stocks that will thrive in any economy >
- Following Zynga's announcement, many analysts began cutting their guidance for Facebook, since a significant portion of Facebook's revenue is derived from Zynga's games.
- Nearly $60 billion was wiped from the value of Indian companies after a flash crash caused the Nifty to fall to low of 15.5 percent from Thursday's close. The National Stock Exchange had to briefly halt trading after 59 erroneous orders were caused by human error. The index however closed down 0.7 percent. Don't Miss: Devastating photos of India's illegal coal mines >
- The Bank of Japan maintained its asset purchase program at 55 trillion yen. It also kept its benchmark interest rate between zero and 0.1 percent. The central banks actions come amid growing political pressure to act and signs of a slowdown in the Japanese economy.
- The consumer credit report for August is out at 3 p.m. ET. Consensus is for consumer credit to rise $7.8 billion month-over-month. Follow the release at Money Game >
- BHP Billiton's CEO Marius Kloppers has raised about $5.2 million through share sales this week to pay off a tax obligation.
- German manufacturing orders fell 1.3 percent in August, driven down by a decline in domestic orders.
- Bonus - Jennifer Garner told Conan O'Brien that the birth of her son Samuel sent her over the edge.
BI Intelligence, a new subscription research service from Business Insider, provides in-depth insight, data, and analysis of the mobile industry.
Access all reports, research updates, presentations, data and chart libraries plus much more with your free trial.
|Click here to start your subscription>>|
More From Business Insider