This is CNBC's Morning Squawk newsletter. Subscribe here to receive future editions in your inbox. Good morning, and happy jobs Wednesday. We may have had to wait five extra days for January's nonfarm payrolls report, but at least we've had the Winter Olympics to pass the time. Norway currently leads with six gold medals, while the U.S. trails in fifth place with two. Stock futures are ticking higher this morning after the three major averages posted a mixed session. Here are five key things investors need to know to start the trading day:
1. Labor intensive
Now Hiring sign and QR code for application, Burlington Coat Factory store, Queens, New York. Lindsey Nicholson | UCG | Universal Images Group | Getty Images
The Bureau of Labor Statistics will release January's nonfarm payrolls report at 8:30 am ET this morning, five days later than initially scheduled, thanks to the recent government shutdown. Economists are expecting the report to show meager growth, if any. Here's what to know: The Dow Jones consensus sees payrolls increasing by 55,000 in the month, marginally higher than December's gain of 50,000. Other Wall Street forecasts are predicting even lower numbers.
The data dump will also include the BLS' final benchmark revisions for the 12 months before March 2025. Those revisions could end up erasing nearly all of the gains made in the period.
This morning's report comes on the heels of several other recent economic data points, which have pointed to a struggling labor market. December retail sales data released yesterday also showed consumer activity slowed significantly in the month.
Even the White House is tempering expectations: National Economic Council Director Kevin Hassett told CNBC this week to "expect slightly smaller job numbers," citing a decline in the labor force, thanks to the Trump administration's immigration efforts, and rising productivity.
Stock futures are higher heading into the report. The S&P 500 threat to the sector.
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2. Built Ford tough?
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