Originally posted by eek
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The White House and the financial markets could certainly do with some good news when the US July non-farm payroll numbers are released an hour before New York equity trading starts.
Analysts expect a net 85,000 positions filled last month, with 115,000 coming from additions to the private sector payroll.
Unemployment is forecast to stay at 9.2 per cent.
But traders, remembering last month’s hugely disappointing 18,000 headline jobs number, may be prepared for the worst.
Back then, the miserable June figure hit a stock market that had just enjoyed an eight day, 6.7 per cent rally which left the S&P 500 just 8 points off its cyclical peak. The good mood evaporated.
This time sentiment is already pretty dour after further downbeat macroeconomic data.
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The White House and the financial markets could certainly do with some good news when the US July non-farm payroll numbers are released an hour before New York equity trading starts.
Analysts expect a net 85,000 positions filled last month, with 115,000 coming from additions to the private sector payroll.
Unemployment is forecast to stay at 9.2 per cent.
But traders, remembering last month’s hugely disappointing 18,000 headline jobs number, may be prepared for the worst.
Back then, the miserable June figure hit a stock market that had just enjoyed an eight day, 6.7 per cent rally which left the S&P 500 just 8 points off its cyclical peak. The good mood evaporated.
This time sentiment is already pretty dour after further downbeat macroeconomic data.
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