This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

On Tap Today: The Employment Report, and It's a Biggie

Headlining today's economic events is the release of the Labor Department's employment report .

The data -- which include nonfarm payrolls, the unemployment rate, the average workweek and average hourly earnings -- are considered the best measure of the overall health of the economy and will set the tone for other indicators that will be released this month. Look for it to weigh heavily in today's trading session. In a separate story,'s Dave Gaffen explores the implications of today's jobs report.

In addition, the Purchasing Managers' Index for May arrives on the Street after the morning bell. The PMI, a survey of approximately 300 purchasing executives nationwide, measures the conditions of the factory sector. A reading above 50 signals expansion; below 50 signals contraction. The reading has not been above 50 since July 2000.

All this and more should make for an interesting day on Wall Street.

Economic Data

(Forecasts are from Reuters . Times are Eastern. For a longer-term economic calendar and more, see TSC's Economic Databank.)

  • 8:30 a.m.: Employment Report for May nonfarm payrolls. Source: Labor Department. Forecast: -17,000. Previous: -223,000.

  • 8:30 a.m.: Average hourly earnings . Source: Labor Department. Forecast: +0.3%. Previous: +0.4%.

  • 8:30 a.m.: Unemployment rate. Source: Labor Department. Forecast: 4.6%. Previous: 4.5%.

  • 8:30 a.m.: Augmented employment rate . Source: Labor Department. Forecast: n.a. Previous: 7.4%.

  • 8:30 a.m.: Pool of available workers . Source: Labor Department. Forecast: n.a. Previous: 10.77M.

  • 9:40 a.m.: Future Inflation Gauge for May. Source: Economic Cycle Research Institute. Forecast: n.a. Previous: 107.4.

  • 10 a.m.: Construction spending for April. Source: Census Bureau. Forecast: unchgd. Previous: +1.3%.

  • 10 a.m.: Purchasing Managers' Index for May. Source: NAPM. Forecast: 43.5. Previous: 43.2.

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,890.18 +85.38 0.48%
S&P 500 2,073.65 +3.00 0.14%
NASDAQ 4,777.5770 +12.1970 0.26%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs