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U.S. Day Ahead: New market highs could rest on jobs report

Thursday, March 07, 2013 - 01:53

Mar 7 - Friday's jobs report is set to show below-average hiring of 160, 0000 in February. Still any positive surprises could fuel the markets further.

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A fourth day of Dow -- and a -- -- if you record may come down to one thing. Friday's payrolls report. According to latest Reuters -- the economy should have created 160000. New jobs in February. It's still pretty week. Give the three month average is around 200000. And any positive surprises could boost market. I've Faris says most forecasts remain before the better than expected ADP report meantime for deeper look at hiring focus on hours -- a week. To include leading economic indicator because businesses generally increased hours of workers but they got higher. I think we should start watching hours worked. Very carefully this spring and summer because a lot of sequester cuts are going to be through furloughs people lose their jobs it was hours. Wall Street's estimates on nonfarm payrolls are all over the place. One of the most pessimistic. Is Barkley -- -- of 150000. New jobs thanks as gains in manufacturing should roughly offset that cutbacks in government employment. On the other hand wells Fargo's estimates for an optimistic 191000. Thinks of the strength of the service sector. Expect mcdonalds an had a rough February when it comes out with sales numbers. Deutsche Bank says worldwide sales should tumbled by over 1%. The patriots in the company's US operations. That's it to be huge drag given the severe winter weather more expensive gas and higher taxes. We -- lowered its US outlook -- sales could fall by almost 4% from Q percent. McDonald's stock down 3% over the last. Follow us on Twitter Reuters Insider and get more -- our videos -- Reuters dot com slash Reuters TV. Friday it will have the latest reaction and analysis of the jobs report my economic team and topped analysts'. I'm Fred Katayama and this is what it.

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U.S. Day Ahead: New market highs could rest on jobs report

Thursday, March 07, 2013 - 01:53