5 Things to Know For the Market Today

02.12.2016 / 12:38

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1. November jobs report in focus
The Labor Department is scheduled to release data on nonfarm payrolls (NFP) at 8:30AM ET (13:30GMT) in what will be Friday’s main market event.
Expectations are for the report to confirm the continued strength of the U.S. labor market.
The consensus forecast is that Friday’s report will show the economy created 175,000 jobs in November, up from 161,000 in October.
The unemployment rate is expected to hold steady at 4.9% and average earnings are expected to increase by 0.2%.

2. Dollar holds steady ahead of NFP, rate hikes eyed
The dollar slipped slightly lower against the other major currencies on Friday, as investors remained cautious ahead of the release of key U.S. employment data later in the day, although overall optimism over the strength of the economy still lent support.

3. Oil slips after 15% jump
Investors took profits in crude on Friday after an aggressive agreement among major oil producers to cut production and tackle the global supply glut earlier in the week sparked a two-day rally that pushed black gold up nearly 15%. U.S. crude oil futures lost 0.82% to $50.64

4. European stocks jittery ahead of Italian referendum
European stocks traded down on Friday with nerves on edge as Italian citizens are set to vote on December 4 in a referendum on whether to overhaul their national constitution, which is designed to help Prime Minister Matteo Renzi implement badly needed economic reforms.
However, Italy was widely expected to reject the constitutional reforms with markets concerned that the defeat would cause a political upheaval in Europe’s third largest economy.

5. ECB expected to extend QE program
Investors in the euro were also looking ahead to the European Central Bank’s (ECB) monetary policy decision in the coming week.
According to a Reuters’ poll released on Friday, the ECB was expected to extend its QE program by six months.

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5 Things to Know For the Market Today

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