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You can find the current article at its original source at http://www.theguardian.com/business/live/2015/oct/02/markets-us-jobs-report-non-farm-live-updates
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| Markets rise ahead of US jobs report - live updates | Markets rise ahead of US jobs report - live updates |
| (35 minutes later) | |
| 8.47am BST08:47 | |
| Here’s confirmation that some traders are losing their enthusiasm for the Non-Farm Payroll circus: | |
| Fantastic jobs number, upward revisions to August won't matter cos the Fed is never hiking #NFPGuesses | |
| 8.43am BST08:43 | |
| Shares in Experian have fallen by 4.5% this morning after the consumer credit monitoring firm announced it had been hacked. | |
| The data breach risks exposing personal data of 15 million consumers, including names, addresses, and social security, driver’s license and passport numbers. | |
| More here: | |
| Related: Experian hack exposes 15 million people's personal information | |
| 8.39am BST08:39 | |
| The end may finally be in sight for Britain’s long-running payments protection insurance saga. | |
| The City regulator has announced plans to force consumers to file compensation claims by the spring of 2018, if they believe they were wrongly sold insurance on financial product. | |
| My colleague Jill Treanor explains: | |
| The regulator had faced pressure from the industry to set a deadline for customers making claims for the insurance sold alongside loans as the bill has already reached more than £25bn in compensation and administration costs. | |
| Over £20bn redress has been paid to over 10 million consumers so far, the FCA said. | |
| Related: PPI claims could face 2018 deadline under FCA plans | |
| Bank shares have jumped by around 2.5% this morning, on relief that compensation payments might finally be capped. | |
| Hopefully it will mean an end to irritating PPI phone calls too – just in time for Volkswagen compensation claims instead.... | |
| Updated at 8.39am BST | |
| 8.31am BST08:31 | 8.31am BST08:31 |
| European markets rally at the open | European markets rally at the open |
| European stock markets have jumped over 1% in early trading, ahead of the US jobs report this afternoon: | European stock markets have jumped over 1% in early trading, ahead of the US jobs report this afternoon: |
| After recent losses, traders will be hoping for a solid but unspectacular NFP reading. However, a strong or weak number could cause some alarm: | After recent losses, traders will be hoping for a solid but unspectacular NFP reading. However, a strong or weak number could cause some alarm: |
| Tony Cross of Trustnet Direct explains: | Tony Cross of Trustnet Direct explains: |
| This number risks either scaring investors off with fears that the US economy is plateauing, or will reaffirm the view that the Federal Reserve needs to hike rates soon to prevent overheating – if there is a Goldilocks zone here, it’s likely to be rather narrow. | This number risks either scaring investors off with fears that the US economy is plateauing, or will reaffirm the view that the Federal Reserve needs to hike rates soon to prevent overheating – if there is a Goldilocks zone here, it’s likely to be rather narrow. |
| 8.16am BST08:16 | 8.16am BST08:16 |
| Introduction: US jobs report on the way | Introduction: US jobs report on the way |
| Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. | Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. |
| There’s a running joke in financial circles that every US jobs report is the most important ever. That might be a slight exaggeration this month, but today’s Non-Farm Payroll report still has the power to shift the markets | There’s a running joke in financial circles that every US jobs report is the most important ever. That might be a slight exaggeration this month, but today’s Non-Farm Payroll report still has the power to shift the markets |
| The September Non-Farm Payroll, due at 1.30pm BST, will show how many new jobs were created in America last month. It’ll also show whether workers benefitted from the recovery with higher wages. | The September Non-Farm Payroll, due at 1.30pm BST, will show how many new jobs were created in America last month. It’ll also show whether workers benefitted from the recovery with higher wages. |
| Economists predict that just over 200,000 new jobs were created last month, up from a disappointing 173,000 last month. | Economists predict that just over 200,000 new jobs were created last month, up from a disappointing 173,000 last month. |
| The market expects the US to have created 201,000 non-farm jobs in September, up from a poor 173,000 in August. #NFPGuesses | The market expects the US to have created 201,000 non-farm jobs in September, up from a poor 173,000 in August. #NFPGuesses |
| That would put more pressure on the Federal Reserve to take the plunge and raise borrowing costs before the end of 2015.... | That would put more pressure on the Federal Reserve to take the plunge and raise borrowing costs before the end of 2015.... |
| .... except it’s not quite that simple any more. The Fed is also worried about the state of the global economy, and the impact of China’s slowdown on the financial system. | .... except it’s not quite that simple any more. The Fed is also worried about the state of the global economy, and the impact of China’s slowdown on the financial system. |
| Chris Weston of IG says traders are getting “a bit exhausted” about the steady stream of allegedly “game-changing” data releases, especially when none of them actually prompt a change of policy. | Chris Weston of IG says traders are getting “a bit exhausted” about the steady stream of allegedly “game-changing” data releases, especially when none of them actually prompt a change of policy. |
| He also reckons the earning data should be interesting: | He also reckons the earning data should be interesting: |
| The single most influential issue that should jump out immediately is that forecasters are expecting wages to grow 2.4% (range 2% to 2.5%). This would effectively be the strongest pace of wage growth since late 2009 and should increase the implied probability of a December hike closer, if not above 50%. | The single most influential issue that should jump out immediately is that forecasters are expecting wages to grow 2.4% (range 2% to 2.5%). This would effectively be the strongest pace of wage growth since late 2009 and should increase the implied probability of a December hike closer, if not above 50%. |
| There’s not much else on the calendar today, alas, apart from UK construction data at 9.30am BST, and new Spanish unemployment data.... | There’s not much else on the calendar today, alas, apart from UK construction data at 9.30am BST, and new Spanish unemployment data.... |
| And in the eurozone, junior ministers should be working on the list of bailout measures Greece must take in return for its next loan payment, ahead of a full eurogroup meeting on Monday. | And in the eurozone, junior ministers should be working on the list of bailout measures Greece must take in return for its next loan payment, ahead of a full eurogroup meeting on Monday. |
| #Eurogroup Working Group meeting today in Brussels to specify timetable of prior actions and tranches for #Greece. | #Eurogroup Working Group meeting today in Brussels to specify timetable of prior actions and tranches for #Greece. |
| Updated at 8.33am BST | Updated at 8.33am BST |