The US stock market was little changed on Thursday as investors looked ahead to a crucial jobs report.
The nonfarm payroll data is due to be released at 9:00 a.m. There was a Friday morning. Employers are expected to have added more jobs in July than they did in June.
The US GDP contracted for a second quarter in a row, meeting the technical definition of a recession.
"If we see a reduction in hiring, even at the expected number, it looks much more likely to be due to a shortage of workers, rather than a sudden shock to labor demand." What matters here is labor availability.
A key indicator of a coming recession has been showing for a month straight.
The market closed at 4:00pm on Thursday.
According to Ned Davis Research, the stock market's rebound since June looks like a new bull market. The firm bases its bullish outlook on a number of technical indicators.
The stock market is headed for another big sell-off unless the economic data gets better, according to Goldman.
There is no quick fix to the global energy crisis because of the low capacity of the Organization of the Petroleum Exporting Countries. Saudi Arabia is on course to notch its first budget surplus in over a decade thanks to soaring crude prices.
As heat waves and supply constraints cause chaos in Europe's energy market, a German refiner is running out of oil and diesel. OMV Germany stated that there's market speculation.
According to Bank of America, new sanctions on Russian crude could push the price of oil over the $130 a barrel mark.
The price of oil fell with West Texas Intermediate down. The international benchmark fell 2.83% to $94.06 a barrel.
The price of gold was 1,802.50 per ounce. The yield fell 6.9 basis points.
The price of the digital currency fell to $22,533.01.
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