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May Jobs Report Closely Watched Next Week

We’re coming up on the first Friday of the month and for Wall Street that means the monthly non-farm payrolls number or what the media calls, the May Jobs Report.

Some argue that the number is so skewed and adjusted that it doesn’t provide an accurate picture of the state of employment. That’s evident by the constant revisions the BLS publishes along with the monthly data but regardless of that debate, the number is important in part, because the media makes it such a big event.

All of that aside, with the market acting more volatile and falling 200 points on Friday, investors are wondering if the bull run of 2013 is coming to an end–at least for now. A correction would be healthy but even the most seasoned investor doesn’t like to see stocks tick lower.

The May Jobs Report will tell investors if the economy is improving or if the stock market remains so detached from Main Street that despite challenging conditions for regular consumers, investors continue to get rich.

It will also help to give the market direction. A worse than expected number will give the market more reason to sell off. A bullish number may put a stop to the downward trending market.

Along with the May jobs report, the upcoming week is full of economic data.

Monday:

  • ISM Index at 10:00 a.m.
  • Auto Sales at 2:00 p.m.

Wednesday:

  • Factory Orders at 10:00 a.m.
  • Fed’s Beige Book at 2:00 p.m.

Thursday

  • Initial Jobless Claims at 8:30 a.m.

Friday

  • May Jobs Report at 8:30 a.m.

 

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