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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) | |
| 10.29am BST10:29 | |
| Concerns that Europe is heading back into deflation have been heightened by new data, showing that prices charged by eurozone producers fell in August: | |
| Euro area producer prices -0.8% in Aug 15 over July 15, -2.6% over Aug 14 #Eurostat http://t.co/TfZfnbh44B pic.twitter.com/NFr6EmcqXF | |
| 10.16am BST10:16 | 10.16am BST10:16 |
| Here’s our take on the latest developments in the emissions scandal, including reports that BMW, Chrysler, General Motors, Land Rover and Mercedes-Benz are all being investigated by US officials: | |
| Related: VW scandal: French authorities launch deception inquiry | Related: VW scandal: French authorities launch deception inquiry |
| Updated at 10.21am BST | |
| 10.08am BST10:08 | 10.08am BST10:08 |
| VW investigated over "aggravated deception" in France | VW investigated over "aggravated deception" in France |
| Another front has opened up in the Volkswagen diesel emissions scandal, with French prosecutors probing the carmaker for potential “aggravated deception”. | Another front has opened up in the Volkswagen diesel emissions scandal, with French prosecutors probing the carmaker for potential “aggravated deception”. |
| Reuters has the story: | Reuters has the story: |
| The Paris Prosecutor has opened an inquiry into suspected “aggravated deception” by Volkswagen, an official from the Prosecutor’s office told Reuters on Friday. | The Paris Prosecutor has opened an inquiry into suspected “aggravated deception” by Volkswagen, an official from the Prosecutor’s office told Reuters on Friday. |
| The move adds to the legal burden the German carmaker faces after U.S. investigators found that it had rigged vehicle pollution emissions tests. | The move adds to the legal burden the German carmaker faces after U.S. investigators found that it had rigged vehicle pollution emissions tests. |
| Paris prosecutor's office opens inquiry into VW for suspected aggravated deception, Reuters and L'Express report http://t.co/rW7qoakDQ5 | Paris prosecutor's office opens inquiry into VW for suspected aggravated deception, Reuters and L'Express report http://t.co/rW7qoakDQ5 |
| 9.44am BST09:44 | 9.44am BST09:44 |
| UK construction growth hits 7-month high | UK construction growth hits 7-month high |
| Britain’s construction sector grew at its fastest pace in seven months in September, driven by housebuilding. | Britain’s construction sector grew at its fastest pace in seven months in September, driven by housebuilding. |
| Markit’s construction PMI, which measures activity across the sector, jumped to 59.9 from 57.3 in August (any reading over 50 shows growth). | Markit’s construction PMI, which measures activity across the sector, jumped to 59.9 from 57.3 in August (any reading over 50 shows growth). |
| Builders reported greater workloads, and are more upbeat about the business outlook too. | Builders reported greater workloads, and are more upbeat about the business outlook too. |
| Markit says: | Markit says: |
| House building remained the best performing broad category of construction activity in September. | House building remained the best performing broad category of construction activity in September. |
| The latest expansion of residential building was the strongest for 12 months which some survey respondents attributed to the launch of development projects that had been delayed earlier in 2015. | The latest expansion of residential building was the strongest for 12 months which some survey respondents attributed to the launch of development projects that had been delayed earlier in 2015. |
| 9.37am BST09:37 | 9.37am BST09:37 |
| Apple’s latest smartphone has helped drive sales up 6.9% at John Lewis, a handy barometer of UK consumer confidence. | Apple’s latest smartphone has helped drive sales up 6.9% at John Lewis, a handy barometer of UK consumer confidence. |
| New iPhones help John Lewis ring up sales rise, strong week at dept store bodes well for September UK retail sales http://t.co/F6prx1HEAV | New iPhones help John Lewis ring up sales rise, strong week at dept store bodes well for September UK retail sales http://t.co/F6prx1HEAV |
| 9.36am BST09:36 | 9.36am BST09:36 |
| A third Glencore director has given the mining and commodities company a vote of confidence, by buying more shares. | A third Glencore director has given the mining and commodities company a vote of confidence, by buying more shares. |
| William Macaulay spent more than £1.5m buying 1.7 million shares in Glencore at 90p yesterday, as the shares rebounded from their record plunge on Monday. | William Macaulay spent more than £1.5m buying 1.7 million shares in Glencore at 90p yesterday, as the shares rebounded from their record plunge on Monday. |
| He follows chairman Tony Hayward, who bought 100,000 shares, and fellow director John Mack who snaffled 550,000 at just 80p. | He follows chairman Tony Hayward, who bought 100,000 shares, and fellow director John Mack who snaffled 550,000 at just 80p. |
| 9.23am BST09:23 | 9.23am BST09:23 |
| Spanish jobless total creeps up as tourists depart | Spanish jobless total creeps up as tourists depart |
| With the tourist season over, the Spanish unemployment total is rising again. | With the tourist season over, the Spanish unemployment total is rising again. |
| The number of people out of work across Spain rose by 26,087 in September, the Labour Ministry reported, a rise of 0.64%. | The number of people out of work across Spain rose by 26,087 in September, the Labour Ministry reported, a rise of 0.64%. |
| That pushes Spain’s jobless total to 4,094,042 million unemployed people. That’s 353,608 fewer than in September 2014, and the lowest since the eurozone debt crisis began: | That pushes Spain’s jobless total to 4,094,042 million unemployed people. That’s 353,608 fewer than in September 2014, and the lowest since the eurozone debt crisis began: |
| And on a seasonally adjusted basis, Spanish unemployment in September fell by 9,746 people. | And on a seasonally adjusted basis, Spanish unemployment in September fell by 9,746 people. |
| 2015 has been a bumper year for Spanish tourism, with visitor numbers up 4.2% to a new record high of 29.2m. | 2015 has been a bumper year for Spanish tourism, with visitor numbers up 4.2% to a new record high of 29.2m. |
| Updated at 9.24am BST | Updated at 9.24am BST |
| 9.18am BST09:18 | 9.18am BST09:18 |
| Reminder of a typical NFP day - boring, boring, boring, boring, eye twitches, GREAT TERROR, REVERSAL, boring, boring, pub, pub, pub, pub | Reminder of a typical NFP day - boring, boring, boring, boring, eye twitches, GREAT TERROR, REVERSAL, boring, boring, pub, pub, pub, pub |
| 8.47am BST08:47 | 8.47am BST08:47 |
| Here’s confirmation that some traders are losing their enthusiasm for the Non-Farm Payroll circus: | 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 | Fantastic jobs number, upward revisions to August won't matter cos the Fed is never hiking #NFPGuesses |
| 8.43am BST08:43 | 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. | 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 T-Mobile consumers, including names, addresses, and social security, driver’s license and passport numbers. | The data breach risks exposing personal data of 15 million T-Mobile consumers, including names, addresses, and social security, driver’s license and passport numbers. |
| More here: | More here: |
| Related: Experian hack exposes 15 million people's personal information | Related: Experian hack exposes 15 million people's personal information |
| Updated at 9.31am BST | Updated at 9.31am BST |
| 8.39am BST08:39 | 8.39am BST08:39 |
| The end may finally be in sight for Britain’s long-running payments protection insurance saga. | 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. | 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: | 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. | 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. | 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 | 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. | 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.... | 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 | 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 |