July employment report just one of many economic reports to confront investors Friday.
August 1, 2003: 5:29 AM EDT
By Mark M. Meinero, CNN/Money Staff Writer
NEW YORK (CNN/Money) - The July jobs report headlines a bill of economic reports that will give U.S. investors, who have seen several positives about the economy in recent days, a lot to think about Friday.
At 5:30 a.m. ET, futures pointed to a higher start for the major indexes.
Economists surveyed by Briefing.com expect the employment report, due before trading starts, to show a modest gain of 10,000 jobs last month, compared with the 30,000 lost in June. The unemployment rate is seen lowering to 6.3 percent from the 6.4 percent of the prior month.
Also due before trading starts is the personal income report for June. That's expected to show a 0.3 percent gain, matching May's rise.
After trading starts, the Institute for Supply Management puts out its closely watched manufacturing report for July. The index is expected to cross over the 50 mark signifying expansion with a reading of 52; the June index was 49.8.
As for consumer sentiment, the University of Michigan's final reading for the month is seen being revised up to 90.5 from the originally reported 90.3.
Around midday, the nation's automakers will report sales figures for July. The annual rates for both car and truck sales are forecast to have risen by about 100,000 each.
For details of Thursday's advance, click above
The Dow Jones industrial average concluded a winning month with a 0.3 percent gain Thursday, although the blue-chip indicator pulled back from the day's highs that were reached after positive reports on second-quarter GDP, last week's jobless claims and the regional manufacturing situation in Chicago. The Nasdaq composite index also scored in July, wrapping things up with a 0.8 percent advance. (see chart for details about Friday's activity)
Asian-Pacific stocks ended higher Friday, responding to the U.S. economic reports among other factors. European markets were flat to lower in early trading. (Check the latest on world markets)
Among U.S. stocks trading in Europe, Walt Disney (DIS: Research, Estimates) rose nearly 4 percent. The media company posted higher fiscal third-quarter earnings that topped analyst expectations, thanks in large part to the success of the animated film "Finding Nemo." Credit Suisse First Boston raised its price target for the stock to $31 from $27; it closed Thursday at $21.92.
The recent boon in stocks has been the bane of Treasury prices. They fell sharply in early trading, sending the 10-year note yield up to a one-year high of 4.49 percent from 4.41 percent late Thursday. The dollar gained against the euro, but fell against the yen.
Brent oil futures added 9 cents to $28.46 a barrel in London, where gold retreated in early trading.
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