The U.S. Bureau of Labor Statistics is releasing its latest monthly jobs report, which can strongly influence market sentiment around the world.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Wall Street awaits the jobs report
The October jobs report is due at 8:30 a.m. ET. Economists are forecasting that 181,000 new jobs were created, up from 142,000 in September.
The unemployment rate is expected to fall to 5%, a modest improvement from September's 5.1% level.
The economy is considered healthy when it's creating at least 200,000 jobs per month. U.S. stock futures are looking a bit weak ahead of the release.
2. Premarket movers
2. Premarket movers
Shares in miner BHP Billiton (BHP) are declining by about 5% premarket after a dam at one of its Brazilian mines broke and flooded a nearby village. Many fatalities have been reported, but the company said "we still don't know the full extent of the situation."
Menswear firm Jos. A. Bank reported poor sales and a bleak profit outlook on Thursday, which has caused shares in parent company Men's Wearhouse (MW) to plunge by roughly 30% in extended trading.
Shares in TripAdvisor (TRIP) are falling around 10% premarket as investors react to disappointing earnings. Shares in Monster Beverage (MNST) are rising by about 8% premarket as investors cheered better-than-expected quarterly results.
3. Takata trouble
3. Takata trouble
Shares in the troubled auto parts manufacturer Takata dropped another 6% in Japan as more large automakers say they will stop using the company's airbags. The value of the stock has halved since the start of the year as the company has struggled to respond to a deadly airbag scandal.
4. Losses in luxury
4. Losses in luxury
Shares in major European luxury brands are taking a hit Friday after Richemont (CFRUY) announced weak sales in the past month and a disappointing performance in Asia. It also said the head of its Cartier brand had left the company.
Shares in Richemont dropped 8%. Shares in LVMH (LVMHF) and Swatch Group (SWGAY) followed with falls of about 5% as investors worried about weakness in the industry.
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