U.S. equity futures are pointing to a higher open on Friday ahead of the release of the government’s report on last month’s nonfarm employment numbers.
The major futures indexes are indicating a rise of 1.1 percent, as violent protests around the country ease and more businesses begin to reopen.
The most important economic report of the month will be released before trading begins on Wall Street.
The economy is expected to shed 8 million jobs in May, second only to April’s unprecedented loss of 20.54 million which wiped out every job created in the last decade. Watch for the unemployment rate to shoot up more than five full percentage-points to 19.8 percent. That would top April’s 14.7 percent reading which surpassed the post-World War 2 record of 10.8 percent from November 1982 and was the highest since record-keeping began in 1948.
Bamsterman
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