Sep 7 - The labor market likely took a step back in August, an outcome that could potentially compel the Federal Reserve to pump additional money into the sluggish economy.
The August jobs report weigh on the minds of investors and politicians alike and it could app will be attempting to corner another market. Let's kick -- -- Friday morning call jobs it is the U word of the day other fifteen times during president Obama's speech last night. He also asked Americans to be patient. And patient they may have to be. Nonfarm payrolls due out at 8:30 AM and economists polled by Reuters as saying. The labor market likely took a step back last month that could prompt reaction from the Fed at next week's meeting maybe not. To be clear we can we think that date has improved enough and if the number does come in around a 150000. And we're also looking for the unemployment rate to tick lower to eight point 2%. We think that would be enough to hold off on another round of asset purchases or Q we at that next week's meeting. Yesterday's positive data is still giving a lift to stock futures are pointing to a higher open this morning. The Dow hit a four year high yesterday. Stock market in Europe rallying today as well and yields on the data struggling eurozone nations fell as investors welcomed the ECB's latest bond buying plan. And also positioned for the US jobs report. Here on the rise to Spanish ten year bond yields fell below 6%. For the first time since Monday. Now couple stocks to watch for you. Commodity trader let court raised its offer for miner Xstrata to salvage did the deal now worth about 37 billion dollars. Look for earnings from Kroger before the bell will see -- higher gas and food prices. Heard the biggest US supermarket chain's results. And yoga apparel maker lululemon reported earnings below expectations. Investors -- day. And apple just can't seem to get enough apple now in talks to life music. Brought customer radio's service a lot like the service operated by pandora media that's according to a report in the Wall Street Journal. The what expand its dominance in yet another market online music. Apple climbing to -- you just others 679. Dollars in the premarket. Pandora on the other hand and not so good at that stock is sliding in premarket trading. That's your morning -- is there is this Friday follow us on Twitter Reuters Insider for the latest headlines. And check out our writers YouTube TV channel Reuters dot com slash writers TV. I've got the shots there this is Reuters.