Friday preview: US non-farm payrolls in the spotlight
(ShareCast News) - September will get off to a 'bang' with a raft of top-tier economic indicators set for release in the States, including the all-important non-farm payrolls report for August.
Unfortunately, coming right before the long Labor Day holiday, there may well be few traders left at their desks to react to it.
Consensus was calling for a 180,000 gain in payrolls and given continued low readings on weekly unemployment claims and a bumper ADP number on Wednesday, an upside surprise was a possibility.
Most important for financial markets however would be the latest reading on weekly average hourly earnings, especially following the weaker than expected print on core PCE prices of 1.4% on Thursday.
Economists at Barclays saw earnings growth coming in at up by 2.7% on the year, versus a rise of 2.5% in July.
Also ahead on Friday were manufacturing sector PMIs from ISM and IHS Markit, together with a final reading on consumer confidence courtesy of the University of Michigan and July construction spending numbers.
Here in the UK, focus will be on IHS Markit's factory sector PMI at 09:30 BST.
Friday's company calendar on the other hand was exceptionally light, with interims from EMIS the lone reference for investors.
Analysts at Numis expected the provider of healthcare software, information and technology-related services to post revenues and adjusted operating profits of £80m and £16.6m at the half-year stage.
Focus would be on the maiden presentation from newly arrived company boss Andy Thorburn, they said, especially on what he might have to say in terms of the firm's strategic direction.
Investment in Patient would also draw attention, Numis said.
In any case, the latest trading statement had pointed to a "solid" performance across most of the business.
Friday September 01
INTERIM DIVIDEND PAYMENT DATE
Amino Technologies, Blackrock Income And Growth Investment Trust, Domino's Pizza Group, Moneysupermarket.com Group, Porvair
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JPMorgan Claverhouse Inv Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Auto Sales (US) (20:30)
Construction Spending (US) (15:00)
ISM Manufacturing (US) (15:00)
ISM Prices Paid (US) (15:00)
Non-Farm Payrolls (US) (13:30)
U. of Michigan Confidence (US) (15:00)
Unemployment Rate (US) (13:30)
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Aberdeen New Dawn Investment Trust, Calculus VCT , Cranswick, Motorpoint Group, Northern Bear, Pennon Group, QinetiQ Group, RPC Group