Payrolls drop by 539,000; jobless rate up to 8.9%

Date: Fri, 08 May 2009 12:01:36 -0400

Payrolls drop by 539,000; jobless rate up to 8.9%

The U.S. economy sheds jobs at a horrendous pace in April, with
nonfarm payrolls falling by 539,000 and the unemployment rate jumping
to a 26-year high of 8.9%.

FUTURES MOVERS: CRUDE RISES AS JOBS DATA RAISE RECOVERY HOPES

Crude-oil prices rise for a third session as a better-than-expected
U.S. jobs report cements recent optimism about an economic recovery
and rising prospects
for oil demand.

TOYOTA REPORTS $7.7 BILLION QUARTERLY LOSS

Toyota Motor Corp. on Friday reported a $7.7 billion quarterly loss,
forecast another loss for the current fiscal year and pledged to
accelerate cost cuts and expand its hybrid vehicle line-up.

EMERGING MARKETS REPORT: CHINA CENTRAL BANK SAYS FED MOVE PUT BONDS AT RISK

Chinese bank authorities warn the Federal Reserve's programs to pump
more cash into the financial system by buying $300 billion in
Treasurys risks jolting bond prices and devaluing the dollar.