Monthly job report dominates calendar

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U.S. employment data is the main event on today's calendar.

The Labor Department will issue its monthly non-farm payrolls report at 8:30 a.m. ET. Economists predict that roughly 85,000 jobs were added last month, down from 171,000 in October, because of Hurricane Sandy. The unemployment rate, released at the same time, is expected to climb to 8 percent from 7.9 percent.

The University of Michigan's consumer sentiment index follows at 9:55 a.m. ET. Economists expect a reading of 82.4, down from 82.7 last month. A higher number could draw buyers to stocks, while a weaker one could negatively affect sentiment.

Germany will also report industrial production early in the morning. While the news is less important than U.S. non-farm payrolls, it could have some affect on sentiment.

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