Payrolls front and center on calendar
Non-farm payrolls dominate today's calendar of events.
The release is scheduled for 8:30 a.m. ET. Economists estimate that 175,000 jobs were created last month, compared with 195,000 in June. The private sector is expected to account for 195,000 of those additions, down from 202,000 in the previous month.
The unemployment rate, released at the same time, is forecast to decline to 7.5 percent from 7.6 percent. Higher readings will likely be interpreted bullishly on the payrolls, while lower numbers are considered good news on the unemployment rate. Other big job reports have been positive this week.
June factory orders follow at 10 a.m. ET. While they're expected to increase 2.2 percent, the news seldom affects sentiment because it's relatively old and mostly known from other releases.
Big companies reporting earnings include Cablevision, Chevron, Toyota, Eaton, and American Axle.
Next week's scheduled is much quieter than this week's. The Institute for Supply Management publishes its non-factory index Monday morning, and retailers will announce monthly same-store sales on Thursday.
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