Jobs Report Preview
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What’s in Today’s Report:
- Jobs Report Preview (How Bad Would a Too Hot Number Be for Markets?)
- Why Oil Dropped
Futures are modestly lower on slightly stagflationary foreign economic data while investors digest Wednesday’s bounce and look ahead to tomorrow’s jobs report.
Economically, foreign data hinted at stagflation again as Taiwan and South Korean CPIs rose slightly more than expected while German exports missed estimates (-1.2% vs. (E) – 0.6%).
Today focus will remain on data and Fed speak. The key economic report is Jobless Claims (E: 210K) and at this point, the higher the better for stocks. We also have numerous Fed speakers today including Mester, Barkin, Daly, and Barr. However, none of them are Fed “leadership” so unless they provide surprise comments they shouldn’t move markets.
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