Jobs Report Preview
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What’s in Today’s Report:
- Jobs Report Preview
Futures are little changed following a mostly quiet night of news and mixed economic data.
European economic data continued to point to lack-luster growth. German Manufacturers’ Orders (-1.5% vs. (E) -2.0%) and UK Construction PMI (55.2 vs. (E) 54.3) beat while Eurozone Retail Sales (-0.5% vs. (E) 0.0%) missed expectations.
Bitcoin rose above $100k for the first time in overnight trading, hitting a new milestone.
Today the focus will shift to employment ahead of tomorrow’s jobs report as we get Challenger Job Cuts (E: 55k) and Jobless Claims (E: 215K). The key for both metrics remains Goldilocks readings (generally meeting expectations but not too weak or too strong). Additionally, there is one Fed speaker today, Barkin (12:15 p.m. ET).
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