Markets Take an Early Labor Day Break

The release of the critical August jobs report on Friday, just ahead of the Labor Day holiday, has investors hoping for positive results. Consensus forecasts predict a slight slowdown in hiring, but other employment measures this week have shown a mixed picture. A loosening of the tight labor market and wage growth is seen as crucial to the Federal Reserve's decision on further tightening. Meanwhile, global markets have shown signs of improvement, with Chinese credit easing and factory surveys indicating a recovery. In Europe, investors are divided on whether the European Central Bank is done tightening, while the IMF expects global interest rates to remain high for some time. In corporate news, shares in Broadcom slipped after its fourth-quarter revenue outlook missed forecasts.