Larry Kudlow, director of the U.S. National Economic Council, speaks to members of the media outside the White House in Washington, D.C., U.S., on Monday, Oct. 7, 2019.
TJ Kirkpatrick | Bloomberg | Getty Images
Here are the most important things to know about Friday before you hit the door.
1. Big jobs report
All eyes will be on Friday’s jobs report for a clear read on the U.S. labor market.
The Labor Department is set to release the tally of nonfarm payrolls for November. Economists polled by Dow Jones are expecting 187,000 jobs added last month, one of the highest estimates this year ahead of a jobs report. November’s figure would reflect a temporary boost from returning General Motors autoworkers.
The economy added 128,000 jobs in October, far more than expectations. Unemployment rate is expected to stay at 3.6% in November, near the lowest in 50 years.
Recent jobs data have been rather confusing: The latest weekly jobless claims dropped to a seven-month low, while ADP data showed private-sector jobs grew at the slowest pace in six months last month.
2. Consumer sentiment
We’ll also get an early read on consumer sentiment in December from the University of Michigan’s Surveys of Consumers data. Economists polled by Dow Jones expected sentiment to rise to 96.5 from 95.6 in November.
Consumer sentiment came in higher than expected for November. The survey revealed last month U.S. household wealth is rising, but risks from the ongoing U.S.-China trade war and slow global economic growth could lead to “negative shocks” for consumers.
3. Kudlow on CNBC
Investors remain on edge about the status of the so-called phase one trade deal between the U.S. and China with higher tariffs to kick in in 10 days. Larry Kudlow, White House National Economic Council director, will join CNBC’s “Squawk on the Street” on Friday to answer questions about the latest development on the trade front.
The Wall Street Journal reported on Thursday the U.S. and China still haven’t reached a consensus on the amount of agriculture goods that China would buy.
President Donald Trump, however, said Thursday trade talks with Beijing were going “very well.” He added that something could happen regarding those tariffs that set to be imposed on Dec, 15, but added they are not discussing that yet.
Major events (all times ET):
8:30 a.m. November Non-farm Payrolls
9:30 a.m. Larry Kudlow on CNBC’s Squawk on the Street
10:00 a.m. Monthly Wholesale Trade
10:00 a.m. University of Michigan Survey of Consumer Sentiment
3:00 p.m. Consumer Credit
Investors will digest a big jobs report, consumer sentiment data and an interview with Larry Kudlow on Friday.