Jobs Report Preview: One Rate Hike or Two?
What’s in Today’s Report:
- Jobs Report Preview: One Rate Hike or Two?
Futures are higher to start Q4 as investors digest higher Treasury yields, Micron’s latest outlook, and upcoming economic data.
Geopolitically, oil prices are higher as there was little progress on U.S.-Iran talks while a Houthi attack targeted the Abqaiq oil facility in Saudi Arabia.
Economically, China’s official Manufacturing PMI rose to 52.1 while Services PMI came in at 51.6.
Today’s focus will be on Jobless Claims (E: 200K), ISM Manufacturing PMI (E: 54.8), and Construction Spending (E: 0.0%) as markets will be looking for solid but not too-strong data. The Treasury will also hold a 4- & 8-Week Bill auction at 11:30 a.m. ET.
Finally, there is a slew of Fed speak today as Waller (10:00 a.m. ET), Jefferson (1:30 p.m. ET), Bowman (3:00 p.m. ET), Williams & Cook 3:30 p.m. ET), Logan (6:45 p.m. ET) are scheduled to deliver comments. Earnings include ACN ($3.19), NKE ($0.45), and MKC ($0.75).
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