Day Ahead: It's All About Jobs

The U.S. added a solid 215,000 jobs in July, which could help push a Fed rate hike in September.
Stocks quotes in this article: GRPN, HSY, BID, CVC, MGA, WWAV, BRKA

All eyes are on the U.S. nonfarm payrolls report, which was released at 8:30 a.m ET. Consensus of 220,000 jobs added in July was slightly above actual, which came in at 215,000. This points to a still-improving economy and helps tip the scale towards a Fed rate hike in September. The unemployment rate came in at 5.3%, which was in line with consensus.

Domestic equity futures are modestly lower ahead of the release.

In geopolitical news, aside from the entertaining Republican Party debate last night, Democratic Senator Chuck Schumer looks set to oppose the Iran Nuclear Accord, in opposition to President Obama and the Democratic Party. Obama needs 34 Democratic senators to support the plan.

Some earnings calls of note this morning include Groupon (GRPN), Hershey (HSY), Sotheby's (BID), Cablevision Systems (CVC), Trifecta Stocks' holding Magna International (MGA), WhiteWave Foods (WWAV), and Berkshire Hathaway (BRK/A).

At 1 p.m. ET we are set to receive the Baker Hughes rig count.

Happy trading!

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TAGS: Markets

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