Russell 2000 futures higher
The Russell 2000 (NYSE: IWM) futures are rising and the small-cap index will probably open in the green following news of employment data.
Private sector employment in the United States increased by 40,000 in the month of December, according to a report by Automatic Data Processing, Inc. (NYSE: ADP). Employment in the service-providing sector of the economy grew 71,000, while employment in the goods-producing sector declined 31,000, the Roseland, N.J.-based provider of business outsourcing solutions said.
However, December’s increase of 40,000 shows a slowing of nonfarm private employment growth that averaged 118,000 during the three-month period from September through November.
That’s consistent with a slowing economy.
Separately, the U.S. Labor Department reported that jobless claims for the week ended Dec. 29 fell 21,000 to 336,000 from the previous week’s upwardly revised figure of 357,000.
Investors will also be waiting to see data on factory orders for November, set to be released by the U.S. Census Bureau at 10 a.m. ET. Statistics released on Wednesday showed a surprise decline in U.S. manufacturing in December, the news of which sent stocks tumbling.
Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:
Biggest percentage gainers:
• KongZhong Corp. (KONG), up 13% on news it has signed a strategic alliance agreement with China Sports Industry Group Co.
• Sciele Pharma Inc. (SCRX), up 10% on news it has received approval to sell a new version of its high blood pressure drug.
• NightHawk Radiology Holdings, Inc. (NHWK), up 9%.
• China BAK Battery, Inc. (CBAK), down 4%.
• AXT Inc. (AXTI) down 3%.
• Liquidity Services, Inc. (LQDT) down 2%.
