The all-important U.S. jobs report is out Friday and the results tend to move markets.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Getting ready of the report
1. Getting ready of the report
The Bureau of Labor Statistics is posting its jobs report for May at 8:30 a.m. ET.
Economists predict 159,000 jobs were created last month, down slightly from the 160,000 new jobs added in April.
They also predict the unemployment rate will edge down to 4.9% from 5% in April.
Several economists believe U.S. job growth was hurt last month by the Verizon (VZ, Tech30) employee strike. About 36,000 Verizon workers went on strike for six weeks, demanding better pay and work conditions. Last week, the company and its employees reached an agreement after the U.S. Labor Department intervened.
2. Stock market overview
2. Stock market overview
U.S. stock futures are treading water ahead of the jobs report.
European markets are pushing higher in early trading, while Asian markets all closed out the week with gains.
3. Focus on Tech
3. Focus on Tech
Wall Street is focusing on Facebook (FB, Tech30) right now after the company asked shareholders to vote on a new proposal regarding CEO Mark Zuckerberg's control of the company.
If the proposal is approved, Zuckerberg's majority voting control would be terminated if he steps down or no longer occupies a leadership position at the firm.
"These new terms thus ensure that we will not remain a founder-controlled company after we cease to be a founder-led company," Facebook said in a filing.
Twitter (TWTR, Tech30) and Yahoo (YHOO, Tech30) are in the spotlight after the New York Post reported the two companies had considered merging.
Yahoo began accepting takeover bids last month. Tech and media companies, and private equity firms, have taken a look at the company.
4. Thursday market recap
4. Thursday market recap
It was a positive day for markets on Thursday, though trading was relatively muted.
The Dow Jones industrial average and the S&P 500 each gained 0.3% while the Nasdaq added 0.4%.
Oil prices were volatile after the oil cartel OPEC decided not to change its output policy. There were faint hopes that the group might agree to cap production, but this didn't pan out.
OPEC is now pumping oil at near-record levels of 32.7 million barrels a day, according to the International Energy Agency. Oil has recovered from $26 a barrel in February to around $50.
