S&P 500 Near Record Sets Stage for ‘Critical’ U.S. Jobs Report
- Payrolls seen increasing by almost 1.5 million last month
- Some downside is already reflected in Treasury yields: BMO
Aug. 7: Oaktree's Marks Says U.S. Could Be in Depression Without Fed
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Today’s jobs report could be make-or-break data for U.S. equities.
The S&P 500 is 1.1% below its closing high in February as investors head into the July nonfarm payrolls report at 8:30 a.m. New York time Friday. The data is crucial after a five-day rally that has looked past escalating U.S.-China tensions and instead toward the economic rebound, strong earnings and chances that Congress will approve a new stimulus plan.