Nonfarm payrolls are expected to be unchanged, and the unemployment rate is expected to hit 10.1%, when the labour department comes out with its latest jobs report at 8:30.
But here’s a serious question to ponder over the next two hours while you twiddle your thumbs waiting: Does this fragile market want a weak report (and thus a promise of more liquidity) or a strong report (and a signal of economic health)?
Before this week we might have said the former — the market wants money pumped into it above all else.
Now we’re not so sure. With yesterday’s weak jobless claims report, and very real signs of economic cracks emerging, our guess is that investors would like to see real economic health.
After all, a Fed rate hike in this de-tightening environment is the last thing on anyone’s mind.