Economic and financial news move the stock market, as they are supposed to do so. Today a very important economic indicator, the December jobs report, non-farm payrolls will be released at 8:30 AM EST time. It can move stocks as in the past there has been increased volatility, as in the forex market as well.
What the US stock market is anticipating from the jobs report today
“The U.S. Department of Labor will deliver its December jobs report at 8:30 a.m. ET Friday.
The release is expected to cap off a strong year for the labor market, with the unemployment rate holding at a 50-year low and payrolls rising even as a temporary boost from November fades.
Here are the main results expected from the report, according to Bloomberg-compiled data as of Thursday afternoon:
Change in non-farm payrolls: +160,000 expected, vs. +266,000 in November
Unemployment rate: 3.5% expected, vs. 3.5% in November
Average hourly earnings, month on month: +0.3% expected, vs. +0.2% in November
Average hourly earnings, year on year: +3.1% expected, +3.1% in November
Payroll gains are poised to decrease in December after surging in November, when General Motors employees striking between September and October returned to work and pushed up results. But the end of the strike only accounted for a net 41,000 of November’s payroll gains – meaning underlying job growth was still well above the one-year trend even aside from the one-time effect.”. Source : Yahoo Finance.