Jobs Day
Jobs Day: Why A Goldilocks Report Matters For This Market: Start a free trial of The Sevens Report.
What’s in Today’s Report:
- Abbreviated Jobs Report Preview
Futures are little changed ahead of the jobs report and following a mostly quiet night of news.
Economically, the only notable report was German Industrial Production which missed estimates (-2.4% vs. (E) -1.0%).
On trade, the world is still waiting for a Trump/Xi call before retaliatory Chinese tariffs are applied on the 10th.
Today focus will be on the jobs report and expectations are as follows: 158K Job-Adds, 4.1% Unemployment Rate, 3.8% y/y Wage Growth. Again, a Goldilocks number that’s modestly below expectations on job adds would be the best case scenario, while a very strong number would boost yields and pressure stocks.
Outside of the jobs report we also get Consumer Sentiment (E: 72.0) and there are two Fed speakers, Bowman (9:25 a.m. ET) and Kugler (12:00 p.m. ET), but they shouldn’t move the market.
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