Morning Briefing: Jobs data in focus, Greek debt standoff continues

Morning Briefing: Jobs data in focus, Greek debt standoff continues

Morning Briefing: Jobs data in focus, Greek debt standoff continues Jobs data in focus, Greek debt standoff continues
On the last day of trading for Wall Street before the extended Labor Day weekend, investors will be closely watching the latest employment Thursday with a Reuters’ poll predicting 230,000 new jobs in June and the unemployment rate down slightly from a month earlier. The data is being released a day earlier than normal due to the holidays and the growth expectation is fuelling calls for a September rise in interest rates. Globally, markets will again to watching any developments in the Greek debt talks although the war of words between the two sides has halted progress and European markets are flat so far. Asian markets closed generally higher despite concern over Greece and US jobs data but Shanghai closed down 3.49 per cent despite new rules that make borrowing for stock purchases easier.

US stock futures are trending higher. Oil is trending higher (Brent $62.26, WTI $57.03 at 6.20am ET). Gold is trending lower.
 
Today’s data
US employment situation at 8.30am ET
Jobless claims at 8.30am ET
Bloomberg consumer sentiment index at 9.45am ET
Factory orders at 10am ET
EIA natural gas report at 10.30am ET
Cannabis Science, School Specialty and Vanguard Energy are among a handful of companies reporting earnings today.
 
Probed: airlines investigated over price fixing claims
An investigation is underway by the US Department of Justice into whether airlines have illegally colluded to keep air fares higher. The regulator announced Wednesday that American, Delta, United and Southwest are all included in the probe; together they control 80 per cent of domestic flights. The four say they are co-operating fully with the investigation.
 
Calif. residents cut water use by 29 per cent
Water savings of 29 per cent have been made in California since the governor introduced measures to curb usage. The LA Times reports that the aggressive approach to tackling the four-year-long drought in the state seems to be working. Environmental groups have hailed the figures as “heartening”.
 
Puerto Rico paid its debt
Despite concerns of a default it appears that Puerto Rico has made its latest $1.9 billion debt payment. CNBC sources say that the payment due Wednesday was made in full; a default was expected following claims from one of the country’s officials that the debt was “not payable”. Although the latest instalment has been paid the entire debt runs to $73 billion.