World Markets On Hold Ahead Of U.S. Jobs Report

This is a syndicated repost courtesy of Money Morning. To view original, click here. Reposted with permission.
(Kitco News) – World stock markets were mixed to weaker overnight, in quieter dealings ahead of U. S. jobs report. U. S. stock indexes are pointed toward firmer openings when the New York day session begins.
Gold prices are slightly higher in pre-U. S. session trading, on s mild bounce from some profit-taking pressure seen the past couple days.
Traders awaiting Friday morning’s U. S. employment report from the Labor Department, due out at 8:30 a.m. EDT. This report is arguably the most important U. S. data point of the month. Forecasts call for the key non-farm payrolls number to come in at up 180,000. The ADP national employment report on Wednesday showed a rise of 178,000 jobs. The marketplace will also be watching the hourly wage component of the jobs report. A lower-than-expected wage inflation reading could prompt ideas of still-very-low inflation pressures, which could in turn keep the Federal Reserve from raising interest rates as soon as it would like. A non-farm jobs reading on Friday morning that significantly misses market expectations is likely to impact many markets, including higher volatility in the immediate aftermath of the report.

This post was published at Wall Street Examiner by Jim Wyckoff ‘ August 4, 2017.