At 6:45 a.m. futures are flat.
The key word for today is jobs.
The government's report on how the job market responded in June is due out before the bell. According to the investment journalists, expect to see that there was a huge loss of jobs in June. Many census workers saw their contracts expire in June.
Brace for bad news.
CNN: Stocks await of jobs report
The government's all-important report on non-farm payrolls is due before the market opens.Reuters: Stock index futures mixed ahead of payrolls
Investors braced for the all-important U.S. data on June employment...which likely contracted for the first time this year as thousands of temporary jobs for census workers ended, though private-sector hiring probably picked up, according to a Reuters survey.
With mounting fears of a double-dip recession, the employment report will be keenly watched for fresh insight on the strength of the U.S. economic recovery. A recent flurry of sluggish U.S. macro data and sovereign debt worries in Europe have knocked down equities while boosting the appeal of safe-haven U.S. Treasuries.
2 comments:
Here's how cynical and calculating the Dems. have become. The jobs report showed a .2 % drop in the UN rate but the reason economists say isn't because more jobs are dropping it. It's because the millions being dropped off the UN rolls! The Dems. and the Obama admin. know this but are crowing anyway that the rate is descending! This even when More not less people are unemployed but they are simply dropping off radar! What's happening is the Dems. for political purposes are allowing the GOP to filibuster extending UN payments so that the rate will go down this way. In other words stopping people from collecting and throwing millions overboard is the ONLY way they can effectively make the rate go down because they haven't a clue at how to improve the job situation. Talk about fucked up! I think I'm starting to hate Obama and the Dems. worse then I hated the Gopers. What assholes!
Yes, this is why you can lose 125,000 jobs and yet have the rate drop .2%. All those people are now in never never land - no money, no job, and no prospects because there are no jobs. The Democrats have no business whatsoever talking shit about improvement. If they are, they are obviously lying and in your words - confusing the public. They are doing the same thing, hoping the public remains stupid and ill informed. Disgraceful. Yet I dislike the GOP worse. Apples and oranges really but I do dislike the GOP more.
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