European markets expected to open higher after sharp losses Thursday.
June's payrolls report – the big event on investors' radar in this holiday-shortened week – will be released Friday at 8:30 a.m. ET.
Economists polled by Dow Jones anticipate payrolls climbed by 240,000 last month, which would suggest a cooling from May's gain of 339,000 positions. They are also estimating that the unemployment rate ticked down to 3.6%, compared to May's rate of 3.7%. Investors hope Friday's report will show signs of wage growth moderating. Economists predict that average hourly earnings climbed by 0.3% in June and rose 4.2% from 12 months prior.
The report takes on a special importance for investors, who have been waiting for signs that the Federal Reserve's last 10 rate hikes have been cooling the economy. The central bank skipped an increase in June, but market participants anticipate a quarter-point boost at the July meeting, according to CME Group's
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