Tuesday, May 1, 2007

Wednesday Curtain Raiser

Jobs will be front and center Wednesday morning. The Challenger Job Cut Report and ADP employment will be out at 7:30 and 8:15, respectively. By sorting through the two reports, economists should have a fairly good idea on where Friday's government employment data will be reported at. Friday's non farm payrolls are expected to come in at 100,000 with one estimate as low as 40k and the higest at 135k.

EIA crude inventory data will be released at 10:30. With some recent refinery shutdowns it's likely that there might be an upward movement in crude oil product, but perhaps a draw down in gasoline inventories.

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