Jobs, ECB top shortened session

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Today brings several big economic reports, but volumes are likely to be weak ahead of tomorrow's Independence Day holiday.

The European Central Bank will report its monetary policy at 7:45 a.m. ET, followed at 8:30 a.m. ET by the U.S. non-farm payrolls report. Economists estimate that 210,000 jobs were added last month, down from 217,000 in May. The unemployment rate is expected to remain at 6.3 percent.

Weekly jobless claims, scheduled for the same time, are projected at 315,000 versus 312,000 one week earlier.

The Institute for Supply Management's non-manufacturing index follows at 10 a.m. ET. Economists are looking for a reading of 56.5, compared with 56.3 in the previous month. Weekly changes in natural-gas inventories follow at 10:30 a.m. ET.

The market closes early at 1 p.m. ET and remains shut until Monday.

Next week's calendar is relatively quiet. The first major events come Tuesday afternoon and evening, when Alcoa reports earnings and China announces inflation data.

Wednesday has few items, but Thursday brings monthly same-store sales from select retailers and weekly jobless claims. Family Dollar and Progressive announce results as well.

Wells Fargo reports earnings Friday morning. Citigroup, JP Morgan, Goldman Sachs, Bank of America and other financial names follow early the next week.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright © 2010 OptionMonster® Holdings, Inc. All Rights Reserved.


This article appears in: Investing , Options

Referenced Stocks: SPX

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