Market Notes - December 3, 2010

U.S. stock index futures turned negative after the latest employment situation report came in softer-than-expected. The Labor Department showed non-farm payroll rose by 38,000, which was less much than expected. However, overall employment for September and October was revised to show 38,000 more jobs than previously thought. Average hourly earnings were flat in November after rising 0.3% in the prior month. The average workweek was steady at 34.3 hours. The unemployment rate edged up to 9.8% from 9.6% in October, which was slightly higher than analysts’ forecast for 9.7%. A report on factory orders and the non-manufacturing ISM index will be released at 01:00 am ET.