Stocks look set to close out week on high note as jobs report eases growth anxieties Stocks are building on yesterday's rally after the monthly jobs data slightly missed estimates for September, but was still solid, and August estimates were upwardly revised. Fed Chair Jerome Powell is set to speak later this afternoon, which could give the market a further boost or could just as easily short-circuit the morning rally. ECONOMIC EVENTS: In the U.S., nonfarm payrolls increased 136,000 in September after a 168,000 gain in August that was revised up from a prior 130,000 estimate. The unemployment rate fell to 3.5% in September, hitting its lowest level since 1969. Average hourly earnings were unchanged month-over-month and were up 2.9% year-over-year. The trade deficit widened out 1.6% to $54.9B in August. TOP NEWS: Shares of HP Inc. (HPQ) are down about 10% near noon after the company announced plans to slash its workforce by 7,000-9,000 employees, with annual cost savings of about $1B by the end of fiscal 2022. At its Securities Analyst Meeting yesterday, where it announced the new restructuring plan, HP Inc. also announced new earnings per share guidance for fiscal 2020, a 10% increase in its dividend for fiscal 2020, and an incremental $5B in share repurchases. Commenting on the announcements, Morgan Stanley analyst Katy Huberty cut her price target on the shares to $20, saying she thinks the print strategy pivot will "likely take years to bear fruit." Apple (AAPL) shares are 2% higher after the Nikkei Asian Review said that the U.S. tech giant has informed its component suppliers to ramp up production for its latest iPhone 11 range by up to 10%, or 8 million units. Shares of publicly traded Apple component suppliers, including NXP Semiconductors (NXPI), Skyworks (SWKS), Texas Instruments (TXN), Cirrus Logic (CRUS), and Intel (INTC), edged higher after the news. Meanwhile, Wells Fargo analyst Timothy Conder said that Cedar Fair (FUN) management stated that the comapny is not looking to be sold. THe analyst noted that no specific comment was made regarding the recent Reuters article saying that Six Flags (SIX) was making a bid for the company. Following the news, Cedar Fair shares fell 5% while Six Flags gained 3%. MAJOR MOVERS: Among the noteworthy gainers were Avaya (AVYA) and RingCentral (RNG), which rose 24% and 25%, respectively, after the companies announced a commercial agreement that will make RingCentral the exclusive provider of unified communications as a service solutions to Avaya. Also higher was Snap (SNAP), which gained 2% after Morgan Stanley analyst Brian Nowak upgraded the stock to Equal Weight from Underweight with a price target of $17, up from $14. Among the notable losers was Antero Resources (AR), which slid 5% after Morgan Stanley downgraded the stock to Underweight from Equal Weight. Also lower was Range Resources (RRC), which fell 2.5% after Credit Suisse downgraded the stock to Neutral from Outperform. INDEXES: Near midday, the Dow was up 233.78, or 0.89%, to 26,434.82, the Nasdaq was up 75.19, or 0.96%, to 7,947.45, and the S&P 500 was up 26.79, or 0.92%, to 2,937.42. Symbols: $HPQ $AAPL $STM $NXPI $SWKS $TXN $CRUS $INTC $FUN $SIX $AVYA $RNG $RRC $AR $SNAPSource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.