(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Nonfarm payrolls up by 225,000 in Jan. vs est. 160,000
* Uber rises after co targets profitability by 2020-end
* EBay down as Intercontinental Exchange abandons deal
options
* Take Two falls tumbles after revenue miss
* Futures down: Dow -0.38%, S&P -0.35%, Nasdaq -0.45%
(Adds quote, details, updates prices)
By Medha Singh
Feb 7 (Reuters) - Wall Street was set to ease from record
highs at the open on Friday as investors assessed the U.S.
employment report for January that showed acceleration in jobs
growth but included a downward revision to certain previous
numbers.
Nonfarm payrolls increased by 225,000 jobs last month, the
Labor Department's data showed, much higher than 160,000 jobs
additions expected by economists polled by Reuters. However, the economy created 514,000 fewer jobs between
April 2018 and March 2019 than originally estimated. The biggest
downgrade to payrolls over a 12-month period since 2009.
"Where the market is right now, it likes to see an economy
that's not too hot and not too cold because a much stronger
economy suggests higher interest rates," said Rick Meckler,
partner at Cherry Lane Investments, a family investment office
in New Vernon, New Jersey.
A four-day run has put the S&P 500 SPX on course to wrap
up its best week in eight months as investors took comfort from
China's efforts to contain the spread of coronavirus and limit
the economic damage from the outbreak that has killed more than
600 people.
The new infections in mainland China on Thursday were down
from Wednesday and Tuesday's figures, but experts warned it was
too early to identify a trend. At 9:00 a.m. ET, Dow e-minis 1YMcv1 were down 112 points,
or 0.38%. S&P 500 e-minis EScv1 were down 11.75 points, or
0.35% and Nasdaq 100 e-minis NQcv1 were down 42.5 points, or
0.45%.
More than 300 S&P 500 companies have reported fourth-quarter
results so far, of which about 70% have topped earnings
estimates, according to IBES data from Refinitiv.
Take-Two Interactive Software Inc TTWO.O slumped 9.3%
after the videogame publisher missed estimates for quarterly
adjusted revenue. AbbVie Inc ABBV.N gained 3.2% after the drugmaker forecast
2020 earnings above analysts expectations. Uber Technologies Inc UBER.N shares gained about 6.2%
after the ride-hailing company moved forward by a year its
target to achieve a measure of profitability to the fourth
quarter of 2020. EBay Inc EBAY.O tumbled 6.1% after New York Stock Exchange
owner Intercontinental Exchange Inc (ICE) ICE.N decided to
stop exploring deal options for the ecommerce company.
Intercontinental shares rose 4.2%.