NEW YORK (TheStreet) -- Here are 10 things you should know for Friday, May 8:
1. -- U.S. stock futures were rising in hopes of a strong jobs report Friday.
European stocks rallied Friday as Prime Minister David Cameron's Conservative Party won a majority in the U.K. elections. Bank stocks rose.
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2. -- The economic calendar in the U.S. on Friday includes the all-important nonfarm jobs report at 8:30 a.m. and wholesale trade data at 10 a.m.
3. -- U.S. stocks on Thursday closed up in anticipation of Friday's jobs report.
The Dow Jones Industrial Average (DIA) rose 0.46% to 17,924.06. The S&P 500 (SPY) went up 0.38% to 2,088.00. The Nasdaq(QQQ) climbed 0.53% to 4,945.55.
4. -- The nonfarm jobs report will be released by the Bureau of Labor Statistics at 8:30 a.m. Employment numbers are predicted to increase sharply for April to 220,000 new jobs, up from 126,000 in March, according to economists surveyed by Bloomberg Business.However, estimates for the number of new jobs range widely, from 180,000 to 335,000.
A strong nonfarm payrolls report might prompt the Federal Reserve to raise interest rates sooner than it otherwise might.
5. -- Chinese e-commerce site JD.com (JD) said it is investing $350 million in Tuniu, an online travel site. The move will make JD.com the largest shareholder in Tuniu. The Chinese travel market is growing, with about 200 million expected by 2020. The move strikes back against Alibaba (BABA), which has also expanded travel offerings recently.
Alibaba's stock was up 1.5% in premarket trading, and JD.com's ADRs were rising by 2.6%.
6. -- Syngenta (SYT), a Swiss agricultural company, rejected Monsanto's (MON - Get Report) $45 billion bid to take it over. Syngenta said the price was too low and that regulatory hurdles would be difficult to clear.
Syngenta chairman Michel Demaré said in a statement that its current valuation is affected by short-term currency and commodity price movements, but "the business outlook is strong." Emerging markets account for more than half of sales. The deal would face"significant execution risks, including regulatory and public scrutiny at multiple levels in many countries."
In premarket trading, Syngenta's ADRs were up 10.8%. Monsanto stock was up 2%.
7. -- Citizen taxi app Uber has submitted a $3 billion bid to buy Here, a mapping service from Finnish telecom company Nokia (NOK -Get Report), according to a report in the New York Times. Nokia's Here program is a competitor to Google (GOOG) (GOOGL) Maps. Other bidders for Here are said to include a consortium of automakers.
In premarket trading, Nokia's ADRs were up 1.7%.
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8. -- Bojangles, the fried-chicken-and-a-biscuit Southern chain, has priced its IPO at the high end of its range, at $19 per share. The company will trade on the Nasdaq as BOJA. That will place the company valuation at about $680 million. The initial suggested price range was $15 to $17 for 7.75 million shares to be sold.
The stock is expected to begin trading Friday.
9. -- The U.K. elections have gone decisively to David Cameron's Conservatives, although before the election the race seemed to be a dead heat between the Conservatives and Labour. The pro-business Conservatives will have a near-majority in Parliament and may not need to rely on a coalition government at all.
The U.K. stock market -- and European markets in general -- were rallying on the news.
By Nora Morrison
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