U.S. Morning Call: Economists expecting lower jobs number
Friday, December 07, 2012 - 03:02
Dec 7 - Hiring likely took a hit due to Superstorm Sandy, while IFR expects a drop in manufacturing jobs for the third time in four months.
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Let's pick up your morning call for Friday we got the November jobs report at 8:30 AM. Economists polled by Reuters -- payrolls rising only 93000. Last month. After advancing 171000. In October. Hiring likely took a hit a super storms sandy. I FR expect to see it drop in manufacturing employment for the third time in four months with construction adding around 101000 jobs. The unemployment rate is seen as holding steady at seven point 9%. Businesses have been -- a sharp tightening of the government's budget could push the economy into recession. And have been cautious about aggressively spending on labor and capital. The payrolls report will probably set the tone for financial markets today US stock futures pointing to losses ahead. European stocks also lower today after Germany's Central Bank cut its growth outlook for next year. And keep an -- on -- prices steady near 107 dollars a barrel but headed for their biggest weekly loss in more than a month. On worries about the Euro zone economy and it looming fiscal -- crisis in the US the world's top oil consumer. More on the macro front later this morning we've got the Reuters university of Michigan's consumer sentiment index. I -- -- expects the preliminary -- for December to take up to 83 point four from 82 point seven last month. IF RC's consumer attitudes improving as we move further past the impact of sandy and to what may be a strong holiday shopping season. Also keep an eye out for data on consumer credit it's expected to rise -- modest seven billion dollars in October. Down significantly from the eighteen point 4000000000 and eleven point four billion dollar gains seen in August and September respectively. And stopped to watch. Net -- monthly viewing exceeded one billion hours for the first time ever in June said Reed Hastings in -- face the post on July 3. Good news for Netflix right. You are but the Securities and Exchange Commission says the company's CEO violated public disclosure rules with that comment. Netflix received a wells notice from the US regulator which could potentially lead to a civil injunction against Netflix and Hastings. Shares of online movie rental company up about 27%. Since the controversial post. And finally Biopharma company Ameren say it's raised 100 million dollars. To help it form a sales team for its heart drug investors however hoping for news and the sale our partnership shares down 17% in premarket. That's your morning offer Friday you can follow us on Twitter at Reuters Insider in check out our way YouTube channel at Reuters dot com slash writers TV. I'm Lisa Bernhard this is Reuters.
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