Highlights
In focus this morning at 8:30 am ET, the US employment report. The Econoday consensus forecast sees a rebound of 55,000 payroll jobs for August after the surprising decline of 23,000 in July.
The employment update takes on added interest after the latest twist in expectations for Federal Reserve action. Fed Governor Christopher Waller's comments on Thursday were viewed as reopening the prospect that the Fed will keep rates steady at the September meeting. He suggested the decision hangs in the balance, depending largely on the data released ahead of the FOMC meeting Sept. 15-16.
Going into the Waller appearance on Thursday, markets were increasingly pricing in a rate hike in September. Now the pricing suggests a 50-50 chance.
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