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Published on Sep 2, 2016
The
Labor Department will release job growth and the unemployment rate for
August. Economists expect 180,000 jobs added last month and for the
unemployment rate to tick lower to 4.8%. Some economists and investors
have called today's report the most important jobs report ever as it has
huge implications for both interest rates and the election. Crude oil
prices are set for their worst week since early January. A stubborn
oversupply of oil, a strong U.S. dollar and comments from oil ministers
that OPEC won't cut production have sent oil prices down around 9% so
far this week. OPEC meets later this month. Samsung is recalling its new
Galaxy Note 7 smartphone worldwide. There have been reports the device
catches fire while charging. The phone was just released a month ago and
had gotten mostly great reviews. Samsung says it will replace all 2.5
million Galaxy Note 7s. Factory orders for July are due today. The U.S.
stock markets are closed Monday for Labor Day.
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