United States

In what may be one of the least relevant payroll reports in a long time as the Fed already knows the labor market is doing better quantiatively (qualitatively it has been all about low-paying jobs gaining at the expense of higher paying manufacturing and info-tech positions) and as has further demonstrated it is no longer jobs data dependent, here is what Wall Street consensus expects: total payrolls +200,000, down from 215K in March; a 4.9% unemployment rate; average hourly earnings rising 0.3% (last 0.3%) M/M and 2.4% Y/Y (last 2.3%); on labor force participation

• Trump, under pressure to unite Republicans, sharpens attack on Clinton (Reuters)
• Trump's Campaign Upends the Science of Presidential Transition (BBG)
• Trump says Britain would be better off outside EU (Reuters)
• Goldman Said to Extend Fixed-Income Job Cuts to 10% of Staff (BBG)
• Apple's Tim Cook to visit China for government meetings (Reuters)
• China regulator studying impact of overseas-listed firms relisting in China (Reuters)
• China Ponzi Warning to Asset Managers Cites Pooling of Cash (BBG)

Ahead of the most important macroeconomic event of the week, US nonfarm payrolls (Exp. +200,000, down from 215,000 and following a very poor ADP report two days ago), the markets have that sinking feeling again.

It’s been almost a decade and a half since 9/11, but the foreign-policy establishment still cannot admit that continuous American intervention in the Middle East has been a failure.

Authored by Brendan McGarry via DoDBuzz.com,

More than two dozen U.S. lawmakers are urging President Barack Obama to refrain from supplying Syrian rebels with American-made shoulder-fired surface-to-air missiles.