Payrolls, OPEC Meeting, Global Tax, Robinhood IPO – What’s Moving Markets By Investing.com – Investing.com

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  • Date: 02-Jul-2021
  • Source: Investing.com
  • Sector: Economy
  • Country: Gulf
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Payrolls, OPEC Meeting, Global Tax, Robinhood IPO – What’s Moving Markets By Investing.com – Investing.com

© Reuters.

 By Peter Nurse



Investing.com --Nonfarm payrolls loom large, OPEC remains undecided over production levels, ECB’s Lagarde wants the bond-buying program to remain for now and a global corporate tax rate draws nearer. Here's what's moving markets on Friday, July 2nd.



1. Labor market report looms



All eyes Friday are on the U.S. Department of Labor, as it’s day.



Despite U.S. rising to levels not seen in over a decade, the Federal Reserve has made it clear that interest rates are not going anyway until the jobs market also shows substantial strength.



So the nonfarm payrolls release, at 8:30 AM ET (1230 GMT), always widely watched, has become the must-see number as investors try to gauge Fed thinking. 



Expectations at the start of the week were for 700,000 jobs to have been filled last month, up from 559,000 in May. Both ADP's monthly report and this week's initial jobless claims (the latter of which covers a period after the cut-off point for the labor market report) were stronger than expected, and chatter in the market suggests the ‘whisper’ number is now higher. 



2. Crude remains elevated after OPEC surprise



Crude oil prices edged lower Friday, but remained

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