Non-farm payrolls dominate today's calendar of events.
Economists predict that 166,000 jobs were created last month, down from 175,000 in June. Unemployment is expected to remain at 7.6 percent. The Labor Department will release the data at 8:30 a.m. ET. Higher payroll readings on will likely be interpreted bullishly, while lower unemployment could also help sentiment.
Natural-gas inventories will be announced at 10:30 a.m. ET, which could affect trading in energy companies.
Next week gets off to a slow start in terms of U.S. economic data. The only reports on Monday consist of German industrial-production and trade in the morning, followed by Chinese trade in the evening.
Earnings season also kicks off Monday afternoon with Alcoa announcing quarterly results. Although there are few scheduled earnings releases next week, companies often issue preliminary numbers at this time.
Tuesday has nothing on the calendar except for the Bank of Japan's monetary announcement in the evening. Given the importance of Japan's rally to broader sentiment this year, the event could move global markets.
Wednesday brings French and Italian industrial production in the morning and minutes from the last Federal Reserve meeting in the afternoon.
Retailers report same-store sales for June on Thursday morning and the Labor Department will release weekly jobless claims. Friday brings the producer-price index and consumer sentiment.
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