Posted on 08/07/2015 4:34:43 AM PDT by expat_panama
U.S. stock index futures indicated a higher open on Friday with investors eyeing the latest release of U.S. jobs data, which are due at 8:30 a.m. ET.
The economy is expected to have added 223,000 nonfarm payrolls in July, enough to allow the U.S. Federal Reserve to pull the trigger on its first rate hike in nine years.
The Fed will consider a possible first rate hike at its September 16 and 17 meeting, but economists say that even with a strong jobs report, it is far from clear cut when the central will move off of the zero fed funds target rate it has had in place since late 2008.
Around the world, central banks appear slow to want to cut their monetary stimulus. On Friday the Bank of Japan maintained the current level of its massive monetary stimulus program steady and stuck to its upbeat assessment of the economy, as expected.
On Thursday the Bank of England's monetary policy committee proved something of a damp squib for those hoping to see signs of a U.K. rate hike soon.
(Excerpt) Read more at finance.yahoo.com ...
The consensus is 5 million jobs were created by someone making them up in the white house.
OUCH!!! Distribution day in soaring volume. Oh well, back to support levels and futures now see stocks flat. For now. Metals same story. Reports:
8:30 AM Nonfarm Payrolls
8:30 AM Nonfarm Private Payrolls
8:30 AM Unemployment Rate
8:30 AM Hourly Earnings
8:30 AM Average Workweek
3:00 PM Consumer Credit
Have you seen the GDP revisions...down?
I am sure that many of those jobs were actually created, and by created I mean made up by the fedgov in that government employment has increased tremendously. I remember a while ago I think on Zero Hedge the calculations and charts showing that government new employment soaked up approximately all of new employment. Add that to the other observation that ALL new private sector employment went statistically to immigrants and it seems that private sector and likely all employment among native Americans(not referring to Indians here) actually decreased.
Sure, about half the time. Rush always belly-aches about how the gdp’s always coming out falsely high and then corrected down but that’s really not true. Same goes for analysts expectations. Folks whine about reports disappointing “unexpectedly” but they’re upbeat unexpectedly just as often.
Second grain of salt: The Employment figures are a LIE and have been for the past SEVEN YEARS!
And I see that the chicken-sh*ts sold off a lot of gold yesterday, LOL!
Not according to this article: http://nypost.com/2015/08/03/the-gdps-hilarious-false-numbers/
I tried to post it, but it’s the NYPost. Where is in wrong in his data?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.