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Unemployment rate and wholesale inventories reports out June 6

Posted June 5, 2008

Baltimore — (TFN): After Thursday’s release of initial jobless claims, there will be a bunch of government statistics reported on Friday:

8:30 AM — Nonfarm Payrolls for May. After last month’s decrease of -20,000, experts expect at least -50,000. We’re not so sure: So far, expectations regarding the labor market have been coming in on the high side. We’d peg shrinkage at between 20,000-30,000.

8:30 AM — Unemployment Rate for May. Current reading is 5%, analysts expect 5.1%. We’d see it between 4.9%-5%.

10:00 AM — Wholesale Inventories for April. Wholesale inventories had fallen -0.1% in March, the first decline in more than a year. Analysts expect an increase of 0.6%. We peg it a tad higher, at almost 0.8%

Barring news-driven bearish news on oil, we anticipate an overall bullish day on the American indexes for June 6.

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Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

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