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Pre-Market: US Adds 192,000 Jobs in March; Google-Owned Nest Labs Halts Sales of Smart Thermostat

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Shares of Google were up in pre-market trading.

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Stock futures pointed toward a higher open for the week's final trading session.

Before the opening bell, Dow Jones (INDEXDJX:.DJI) futures rose 0.20% to 16,517. Futures on the S&P 500 (INDEXSP:.INX) were up 0.31% to 1,883.80. Nasdaq (INDEXNASDAQ:.IXIC) futures moved higher, rising 0.45% to 3,636.75.

The US economy added 192,000 jobs in March, as the non-farm payroll missed expectations only slightly. Jobs growth moved higher from 175,000 in February. The unemployment rate remained at 6.7%.

Asian stocks were mixed ahead of US jobs data, capping off a week of gains that saw Japan's Nikkei Index (INDEXNIKKEI:NI225) rise 2.7% and the yen fall. Meanwhile stocks in China rose after Beijing's recently announced stimulus plans drove confidence among traders. The China Banking Regulatory Commission (CBRC) has instructed banks to shore up their balance sheets and announced it will soon conduct a stress test in various regions.

In Europe, a spat of positive news helped stocks post their longest winning streak in five months as consensus that US jobs data would be positive boosted trader sentiment. Commodities saw gains, with gold turning off its weekly decline. Spain's five-year bond yields fell below US Treasury rates for the first time since 2007, while the euro weakened against the dollar. Greek bonds fell on Friday as well, after Standard & Poor's announced it may lift Greece's credit rating out of junk territory. German factory orders grew in February, grossly beating expectations.

In stock news, Google (NASDAQ:GOOG)-owned Nest Labs has halted sales of its smoke alarms after discovering a possible default that could turn off the units unintentionally. Google acquired smart thermostat-maker Nest in January for $3.2 billion, its second largest acquisition deal. Shares of Google were up 0.68% in pre-market trading.

US generic drug maker Mylan (NASDAQ:MYL) is reportedly looking to take over its Swedish rival Meda. The deal would create a $23 billion-plus pharmaceuticals company, the Financial Times reports. While the value of the takeover is not known, a source told the Financial Times that Mylan will pay a significant premium for Meda. Shares of Mylan were up 12.11% ahead of the opening bell.

Mercedes-Benz has announced its best sales month ever, with its S-Class and new compact cars driving demand. Sales growth at the Daimler AG (OTCMKTS:DDAIF)-owned carmaker has been above 10% for the past nine months, helping it provide stiff competition for rival-automakers BMW (ETR:BMW) and Audi (ETR:NSU).

Twitter: @brokawbrokaw
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