Jobs Report, Lululemon Stock Rise and More: 5 Things You Need to Know About Friday

The main events taking place on Friday are: It may affect trading.

Job report: The week’s key economic report, the August jobs report due Friday morning, is expected to show a solid job market that has begun to cool.

Economists expect the US economy added 300,000 new nonfarm jobs in August, the Labor Department said. This is a drop from July’s 528,000 crash. senior economic analyst Mark Hamrick said, “If the consensus among economists is mostly correct, August employment numbers will be the lowest in a year.” “At the same time, the unemployment rate is 3.5%, his lowest since the pandemic and rivals the lowest in decades.”

August jobs report likely shows jobs remain healthy, but earnings could slow in coming months

Hire sign in shop window

FILE – A hiring sign is posted at a restaurant in Highland Park, Illinois. (AP Photo/Nam Y. Huh / AP Newsroom)

The manufacturing sector likely added 20,000 jobs in August, following a higher-than-expected 30,000 addition in the previous month.

Expect hourly wages to rise 0.4% month-over-month and 5.3% year-over-year.

lululemon: The stock surged more than 9% in after-hours trading after the company reported a second-quarter net profit of $289.5 million.

Net earnings per share were $2.26. Earnings, adjusted for non-recurring income, exceeded expectations at $2.20 per share.

A woman entering a lululemon store in DC

Lululemon store in Washington DC (iStock/iStock)

The athletic apparel maker earned $1.87 billion in revenue during the period, beating the street’s expectations.

Lululemon said it expects revenue in the range of $1.78 billion to $1.81 billion for the quarter ending in October. Analysts expect earnings of $1.73 billion.

The company expects full-year earnings of $9.75 to $9.90 per share and earnings of $7.87 billion to $7.94 billion.

Page duty: Shares rose 8% in after-hours trading following the company’s latest results.

The San Francisco-based company said it lost 44 cents a share. Adjusted for stock option expense and amortization, the loss was 4 cents per share.

The results exceeded Wall Street expectations.

The software developer made $90.3 million in revenue during the period, beating Street’s expectations.

PagerDuty expects this quarter’s result to be a loss of 3-4 cents per share, with earnings ranging from $92 million to $94 million.

Billionaire oil refinery owner reveals ‘easy’ solution to lowering inflation

Oil loss week: Benchmarks tend to plunge week by week as concerns about China’s COVID-19 containment and slow global economic growth weighed on the market.

Oil rose higher on Friday betting OPEC+ will discuss production cuts at its Sept. 5 meeting.

oil well at sunset

Hydraulic oil pump as the sun sets. (iStock/iStock)

US West Texas Central Crude Oil futures trade at around $88.00 per barrel.

Brent crude futures were around $94.00 a barrel.

Both benchmark contracts fell 3% in the previous session to two-week lows. Brent was expected to drop about 7% for the week, while WTI was expected to drop about 5% for the week.

Market holidays: Monday is Labor Day and the market is closed. US stock and bond markets will be closed.

Equity futures trade until 1:00 p.m. ET on Monday.


Energy and Metals futures trade until 2:30 pm ET.

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