Under the heading, "better late than never"..
CNBC | Your Wealth
Compiled by
Matthew J. Belvedere and Peter Schacknow
IN THE NEWS TODAY
U.S. stock futures were sharply lower this morning, ahead of the nonfarm payrolls report, which could help the Fed decide on whether to hike interest rates at its meeting later this month. (CNBC)
Stocks in Europe and Asia were also sharply lower. Japan's Nikkei 225 index clawed back some losses in the final hour of trading to finish off more than 2 percent, at its lowest level since Aug. 26. China's stock market was closed again for a holiday. (CNBC)
The U.S. government's August jobs report, out at 8:30 a.m. ET, is one of the most significant data releases of the summer, because of its implications for the timing of the first rate hike since 2006. (CNBC)
The Fed is coming under pressure from emerging markets not to raise rates too soon as turmoil in China threatens global growth, but the G-20 Finance ministers and central bankers meeting in Turkey won't publicly call for any delay. (Reuters)
After recent sharp ups-and-downs, oil prices were lower this morning, following a cut to European growth forecasts heightened worries over the outlook for demand at a time of huge oversupply. Meanwhile, oil services giant Baker Hughes releases its North American rig count report at 1 p.m. ET.
Russia won't cut oil production, Arkady Dvorkovich, deputy prime minister of the Russian Federation, told CNBC, saying his country was used to fluctuating crude prices.
The Obama administration is greeting King Salman of Saudi Arabia with assurances on the Iran nuclear deal. The king is making his first visit to the White House today, since ascending the throne in January. (AP)
Yanis Varoufakis, an economist and controversial former Greek finance minister, told CNBC that even a child could see why the latest Greek bailout was not going to work.
The $80 billion Bridgewater All Weather Fund, managed by hedge fund titan Ray Dalio, was down 4.2 percent in August alone, posting a year-to-date return of negative 3.76 percent. (Reuters)
London day trader Navinder Sarao has been formally indicted in the U.S. by a federal grand jury on charges of market manipulation that prosecutors say helped contribute to the 2010 "flash crash." (Reuters)
Donald Trump has signed the Republican National Committee's pledge to endorse the eventual GOP nominee in 2016 and forgo a run as a third-party candidate in the general election. (NBC News)
Vice President Joe Biden said last night he "will not hesitate" to run for president next year, but only if his family is emotionally up to it. Biden's son Beau, 46, died of brain cancer in May. (NBC News)
A Kentucky clerk was sent to jail Thursday after a judge found her in contempt of court for refusing to issue marriage licenses to same-sex couples. (NBC News)
BY THE NUMBERS
Besides the jobs report, there are no other major economic numbers or earnings releases due out today. Analysts polled by Thomson Reuters expect a slight increase in nonfarm payrolls to 220,000 in August, with unemployment ticking down a tenth of a percentage point to 5.2 percent and average hourly earnings increasing at a steady 0.2 percent.
Richmond Fed President Jeffrey Lacker is scheduled to speak on "The Case Against Further Delay" at a breakfast at 8:10 a.m. ET this morning. The voting member of the Federal Open Market Committee is a known hawk.
With gas prices continuing to move lower, the national average for a gallon of gas this Labor Day is expected to fall to $2.44, marking the lowest price at the pump since 2004.
STOCKS TO WATCH
Electronic payment device manufacturer VeriFone Systems (PAY) submitted third-quarter results that topped estimates, but its current-quarter forecasts fell short of expectations.
Apparel retailer Gap (GPS) said sales at comparable stores declined 2 percent across its brands in August, dragged by an 11 percent drop at its Banana Republic stores.
Apparel retailer Gap (GPS) said sales at comparable stores declined 2 percent across its brands in August, dragged by an 11 percent drop at its Banana Republic stores.
Cruise liner owner Royal Caribbean (RCL) boosted its dividend by 25 percent to about 38 cents a share.
AI
