Today's calendar is dominated by the monthly employment report one hour before the market opens.
Economists anticipate that non-farm payrolls grew by 125,000 jobs in October, following a gain of 114,000 in September. The unemployment rate, which is derived separately, is expected to increase to 7.9 percent from 7.8 percent.
The Bureau of Labor Statistics will publish the data at 8:30 a.m. ET. It follows a strong ADP private-sector report and better-than-expected jobless claims yesterday.
Germany, France, and the Eurozone will release manufacturing data overnight that could potentially affect sentiment. Economists are looking for continued contraction.
The Commerce Department's report on factory orders is the last and least important data today, scheduled for release at 10 a.m. ET. Given that it covers September, it is now relatively old and is unlikely to affect trading.
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