For Friday August 7, TheStreet highlights the Employment Situation Report, along with earnings from major companies. At 8:30AM eastern, the Bureau of Labor Statistics is set to release its latest jobs report for July. The report will show the latest unemployment numbers. Economists are expecting the unemployment rate to hold steady at 5.3%. The Federal Reserve will be paying close attention to the number as it factors it into the upcoming interest rate hike. TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio, says that if the number comes out to be strong, members of the Federal Reserve will say 'September is go time.' In addition to the labor report set to come out at 8:30 a.m. on Friday, the Consumer Credit report will be released at 3 p.m. Additionally, it's a busy morning with a major companies reporting their latest quarterly results. Chinese Internet company JD.com (JD), chocolate manufacturer Hershey (HSY), and consumer packaged foods and beverage company WhiteWave Foods (WWAV) will all report before the opening bell on Friday. Other companies reporting before the market open are American cable television company Cablevision Systems (CVC), e-commerce market company Groupon (GRPN), and real estate brand Sotheby's (BID). TheStreet's U-Jin Lee reports from New York.
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