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Big jobs report, consumer credit and earnings: 3 things to watch for on Friday
Luke Sharrett | Bloomberg | Getty ImagesHere’s what investors need to know about Friday.Big jobs reportThe Labor Department will release nonfarm payrolls and the unemployment rate for January before the bell. The consensus is for a net increase of 158,000 jobs and for the unemployment rate to stay flat at 3.5%, according to economists polled…
Luke Sharrett | Bloomberg | Getty Images
Here's what investors need to know about Friday.
Big jobs report
The Labor Department will release nonfarm payrolls and the unemployment rate for January before the bell. The consensus is for a net increase of 158,000 jobs and for the unemployment rate to stay flat at 3.5%, according to economists polled by Dow Jones.
Average hourly earnings are expected to have risen 0.3%, according to Dow Jones. Those earnings rose by 0.11% in the last report.
In December, the economy added 145,000 jobs, according to the Labor Department. Revisions for 2019's total employment numbers are also expected to be released.
Earlier in the week, a survey by ADP and Moody's showed a much-better-than-expected gain of 291,000 private payroll jobs in January. Mark Zandi, chief economist at Moody's Analytics, said mild weather helped that report come in well above estimates.
The private payroll survey does not include government jobs included in the Labor Department's report, and the two numbers can sometimes differ substantially in a given month.
Consumer credit
The Federal Reserve will release its consumer credit data for December on Friday. The report includes information on car loans, credit cards and personal loans.
The consensus expectation is for an $14 billion increase, according to Dow Jones. The measure rose by $12.51 billion in the previous report.
Earnings season continues
A busy week of earnings wraps up tomorrow when Cboe Global Markets and AbbVie report. More than 60% of companies in the S&P 500 have reported earnings so far this quarter, and more than 70% have beaten earnings expectations, according to FactSet.
Next week's earnings include major consumer companies Under Armour, PepsiCo and Kraft Heinz. MGM Resorts is also slated to report next week, and the casino company's guidance could give investors better insight into the impact of the coronavirus on hotels and gambling in Macao.
Major events (all times ET):
8:30 a.m. Employment
10:00 a.m. Wholesale trade
3:00 p.m. Consumer credit
Major earnings:
AbbVie (before the bell)
Cboe Global Markets (before the bell)
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