A crucial jobs report Friday will shed new light on the fate of our fragile economy. What should you expect?
For insights Fast Money turns to Mike Darda, MKM Partners chief economist. Following is a summary of Darda’s main points.
-- Payrolls could expand by about 20K in May (that’s optimistic considering the consensus is down 60K) and unemployment should remain flat. (His forecast is based on jobless claims, the ISM data, and the ADP report for May.)
-- A better than expected jobs report should drive the stock market higher, Friday.
-- The economy probably isn’t contracting and looking ahead, both the economy and corporate profits could pick up steam in late 2008 and into 2009.
What’s the bottom line?