Subdued Trade Ahead of NFP
Stock indexes posted modest gains this afternoon as traders gear up for tomorrow’s Non-farm Payrolls report for August. The consensus is for payrolls to have increased by 110,000 jobs last month, but some analysts are looking for a lower figure in light of layoffs in the mortgage industry following the subprime loan fallout. The unemployment rate is expected to remain steady at 4.6%.
Treasury futures were lower to close afternoon trade, with December Ten-year Note futures falling by 0-070 to close at 109-160, and December Two-year Note futures ending the session at 103-0875, down 0-0275.
Economic Data Scheduled for Friday, September 7, 2007
(All times in U.S. Central Time)
U.S.
7:30 AM: Non-farm Payrolls for August (Consensus 110,000)
7:30 AM: Unemployment Rate for August (Consensus 4.6%)
7:30 AM: Average Hourly Earnings for August (Consensus 0.3%)
9:00 AM: Wholesale Inventories for July (Consensus 0.5%)
Great Britain
None
Canada
6:00 AM: Unemployment Rate for August (Consensus 6.1%)
European Union
1:00 AM: (Germany) Trade Balance for July (Consensus 15.6 billion)
5:00 AM: (Germany) Industrial Production for July (MoM) (Consensus 0.9%)
Japan
12:00 AM: Leading Economic Index for July (Consensus 70.0)
