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Friday is jobs day and markets will be closely watching the Nonfarm Payrolls report when it hits at 8:30 a.m. Here’s what you need to know.
- Russia starts things off at 1:00 a.m. on Friday morning with a reading of services PMI.
- At 3:00 a.m. Spain will release the net month-on-month change in Spaniards on unemployment. Consensus is for unemployment to decline by 15,000 in April after increasing 38,800 last month.
- A series of service PMI announcements follow between 3:15 and 4:00 a.m. Economists forecast declines in Italy and Spain to 43.7 and 45.4, respectively. German and French readings are seen flat at 46.4 and 52.7, respectively. A reading below 50 indicates contraction.
- Norwegian unemployment hits at 4:00 a.m., with expectations for a flat reading at 3.2 per cent.
- Eurozone retail sales are scheduled for 5:00 a.m. Economists are looking for no change in March, better than the 0.2 per cent decline seen in February.
- Irish industrial production follows at 6:00 a.m., which last logged a 3.2 per cent sequential fall. There is no consensus for the March report.
- Attention shifts to the U.S. at 8:30 a.m. with the April Nonfarm Payrolls report. Economists forecast the economy added 160,000 total jobs, while private employment grew by 165,000. Unemployment is seen flat at 8.2 per cent.
- At 9:00 a reading of Mexican consumer confidence is expected, with projections for the main index to increase 30 basis points to 93.7 in April.
- Closing out the day at 10:00 a.m. is Canadian PMI, which is seen declining 150 basis points to 61.0 in April.
Below, the major earnings announcements scheduled for the day.
Aon (AON): $0.94
Spectra Energy (SE): $0.52
PPL (PPL): $0.69
Pepco Holdings (POM): $0.24
Duke Energy (DUK): $0.36
AES (AES): $0.27
Exelon (EXC): $0.79
Estee Lauder (EL): $0.34
Ameren (AEE): $0.24
Consensus estimates provided by Bloomberg. All times are in Eastern Standard Time.
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