Stock Futures Lower Following April Jobs Report
The unemployment rate fell to the lowest point since late 2000
Dow Jones Industrial Average (DJI) futures are trading below fair value this morning -- set to reverse yesterday's late-day momentum -- as Wall Street digests the nonfarm payrolls report for April. Specifically, Labor Department data showed the U.S. economy added 164,000 jobs for the month, falling short of an expected 192,000, while wage growth also came in below estimates. However, the unemployment rate fell to 3.9%, the lowest it's been in 17 years. Stocks are also reacting to the latest round of corporate earnings, while blue chip Apple (AAPL) is getting a boost after Warren Buffett told CNBC his Berkshire Hathaway (BRK.A) bought 75 million more shares of the iPhone maker during the first quarter.
Continue reading for more on today's market, including:
3 tech stocks that fell after earnings. The earnings fail that sparked heavy trading on Activision Blizzard. Analysts call for another 38% rally from this hot software stock. Plus, Shake Shack soars; a rallying drugmaker; and Alibaba sales impress again. 
5 Things You Need to Know Today
The Chicago Board Options Exchange (CBOE) saw 938,226 call contracts traded on Thursday, compared to 709,407 put contracts. The single-session equity put/call ratio jumped to 0.76, while the 21-day moving average edged up to 0.65.Shares of restaurant operator Shake Shack Inc (NYSE:SHAK) are set to open at a two-year high this morning, thanks to the company's top- and bottom-line beat for the first quarter and round of bullish brokerage notes. SHAK stock, pointed 9.2% higher before the open, was already up over 10% in the past three months, and we identified the stock as a potential short-squeeze play back in January. Portola Pharmaceuticals Inc (NASDAQ:PTLA) is surging 32.3% before the open, after the Food and Drug Administration (FDA) approved the company's emergency blood thinner reversal treatment, AndexXa. However, this move would only put PTLA stock back where it was trading before a huge bear gap back on March 1. Another noteworthy earnings winner this morning is Alibaba Group Holding Ltd (NYSE:BABA), as shares of the Chinese e-commerce powerhouse trade up 2.1% after its fiscal fourth-quarter results. The company had another huge surge in revenue, as sales again topped estimates. BABA stock has recently been testing potential support atop the 200-day moving average. Earnings from Cboe Global Markets (CBOE), Celgene (CELG), Immunogen (IMGN), and Newell Brands (NWL) will close the book on a busy week. Looking ahead, next week's schedule features a number of speeches from Fed officials.
European Markets Trade Around Bank Stock Earnings
Stocks in Asia finished mostly lower, with losses for bank stocks weighing heavy on regional markets -- and caution prevailing ahead of today's U.S. nonfarm payrolls report. Hong Kong's Hang Seng shed 1.3%, and South Korea's Kospi lost 1%. Continued trade talks between the U.S. and China were also in focus, and the Shanghai Composite fared better than its peers with a drop of just 0.3%. Markets in Japan remain closed for holiday.
European markets are mixed at midday following a fresh slew of financial earnings, with major sector players HSBC, BNP Paribas, and Societe Generale all trading lower after their quarterly results. However, basic resources stocks are on the upswing, as sentiment remains positive on U.S.-China trade talks. At last check, London's FTSE 100 and Germany's DAX are both 0.4% higher, while France's CAC 40 is 0.1% lower.