Wall Street Edgy Ahead of Jobs Report
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Despite a flurry of global central bank movement, US stocks were relatively quiet Thursday as Wall Street is awaiting an important reading on the jobs market Friday. The Dow Jones closed down nearly 47 points, the Nasdaq was up about 0.04, and the S&P 500 closed down about 6.4.
The US Bureau of Labor Statistics will release its June reading on nonfarm, private sector, and manufacturing payrolls Friday at 8:30am ET. Economists are currently expecting a gain of 95,000 jobs in the nonfarm sector, a gain of 103,000 jobs in the private sector, and the manufacturing sector to add about 8,000 jobs. The unemployment rate is expected to remain flat at 8.2 percent.
The nonfarm sector showed the addition of 69,000 jobs during May, the private sector added 82,000 jobs, and the manufacturing sector added 12,000 jobs. These figures will be revised with the June figures Friday morning.
Given Thursday morning's better-than-expected reading on private-sector jobs from ADP for last month, investors and economists have already ratcheted their estimates slightly higher ahead of Jobs Friday.
Earlier, the ADP report prompted economists at Goldman Sachs to lift their jobs forecast to 125,000 from 75,000.
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The US Bureau of Labor Statistics will release its June reading on nonfarm, private sector, and manufacturing payrolls Friday at 8:30am ET. Economists are currently expecting a gain of 95,000 jobs in the nonfarm sector, a gain of 103,000 jobs in the private sector, and the manufacturing sector to add about 8,000 jobs. The unemployment rate is expected to remain flat at 8.2 percent.
The nonfarm sector showed the addition of 69,000 jobs during May, the private sector added 82,000 jobs, and the manufacturing sector added 12,000 jobs. These figures will be revised with the June figures Friday morning.
Given Thursday morning's better-than-expected reading on private-sector jobs from ADP for last month, investors and economists have already ratcheted their estimates slightly higher ahead of Jobs Friday.
Earlier, the ADP report prompted economists at Goldman Sachs to lift their jobs forecast to 125,000 from 75,000.
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