Tonight’s US jobs report is the most critical in many months, as it will go a long way towards justifying, or otherwise, the market’s emphatic expectation of a Fed rate cut or cuts ahead. One might assume if the number comes in “hot”, that is much better than expected, Wall Street would be vulnerable to a pullback from its highs.
If the number is as expected or lower, then rate cuts have already been priced in.
Next week is a rather quiet one on the calendar in terms of economic data releases and scheduled local corporate releases.
The US will see CPI and PPI numbers.
Ditto China, along with June trade data.
In Australia we’ll see ANZ job ads, the NAB business confidence survey and Westpac consumer confidence survey, as well as housing finance numbers.
On the local stock front, Perseus Mining ((PRU)) releases an earnings report and Whitehaven Coal ((WHC)) delivers a quarterly production report, kicking off the next season of production reports the pace of which will pick up in the following week.
