Watch out for the US employment report: 5 key stock market indicators this Friday

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Watch out for the US employment report: 5 key stock market indicators this Friday
Credit: © Reuters.

By Laura Sanchez

Investing.com - It's the macro event of the week. Today we will see the US employment report.

Investors continue to keep a close eye on Omicron's stock market news.

Christine Lagarde, President of the European Central Bank (ECB), speaks today.

Crypto trades mixed.

Here are the five factors investors should consider when making their decisions today:

1. US employment report

At 15:30 the US employment report will be published, a faithful thermometer of the US economy's health and one of the US Federal Reserve's ( Fed ) thermometers when it comes to defining its monetary policy strategy.

2. The 'Omicron effect' continues

Stock markets continue to adjust to the updated news on the Omicron variant.

Countries have focused on reinforcing the vaccination campaign and are trying to avoid mass closures for the time being, because of the damage it can do to economic recovery.

3. Lagarde (ECB)

At 10:30, Christine Lagarde, president of the ECB , is scheduled to make an appearance. We will keep an eye on what Lagarde says about the ECB's tapering plans.

4. Asia and the US stock market

The main Asian indices are mixed today. Nikkei is up 1%, Hong Kong's Hang Seng is down 0.6% and the Shanghai Composite is up 0.9%.

On Wall Street, the market ended yesterday in the green. The S&P 500 (1.4%), Nasdaq (0.8%) and Dow Jones (1.8%) closed higher.

5. Macro data

Among the main macroeconomic releases of the day, Eurozone retail sales , composite and services PMIs in France, Spain , Italy , Germany , the UK and the Eurozone .

In the US the  services PMI will be released, as well as the  Baker Hughes oil rigs .

 

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