Investors Await Friday’s All-Important June Jobs Report
On Friday, July 8, all eyes are on the June labor report, released by the Bureau of Labor Statistics at 8:30am Eastern. Economists expect the economy to have added 180,000 jobs during the month. The June report is of extra importance on the heels of the dismal May jobs report, in which nonfarm payrolls rose by just 38,000, missing estimates of 158,000. Friday's numbers will confirm if the May report was a fluke or the start of a longer-term rough patch in the labor market. Also part of Friday's report is the June reading on average hourly earnings, which is expected to rise 0.2 percent month-over-month, in line with May's increase. Aside from the jobs report, market watchers will get the Baker-Hughes (BHI) Rig Count, set to be released at 1pm Eastern. Last week, the rig count rose by 11 to 340. During the same week last year, the rig count stood at 640. TheStreet's Scott Gamm reports from Wall Street.