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Stocks brace for jobs report

Thursday, July 07, 2016 - 01:01

Stocks had a split session a day ahead of the monthly jobs report. Oil fell dragging down energy shares. Bobbi Rebell reports.

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Stocks were in a bit of a holding pattern ahead of Friday's monthly jobs report, closing out the session with mixed results. New data out Thursday showed private payrolls increased more than expected in June but that fewer Americans filed for unemployment benefits last week. That suggests a rebound in job growth following May's small gains. Russell Investments Stephen Wood: (SOUNDBITE) STEPHEN WOOD, CHIEF MARKET STRATEGIST, RUSSELL INVESTMENTS, (ENGLISH) SAYING: " I think it is going to be about the Federal Reserve. They are watching the jobs report. The numbers in the mid-100's make sense. The 130, 140, 150, 160. They ADP report that we got today is suggesting that that is reasonable. " Oil prices fell about five percent weighing on stocks, like Exxon and Chevron. Pepsi stock a winner. Investing in healthier food and drink options is paying off, and the company said profits will be better than expected this year. European shares bounced back after a three-day losing streak.

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Stocks brace for jobs report

Thursday, July 07, 2016 - 01:01