Peter Schacknow, Senior Producer, CNBC Breaking News Desk
July 7, 2011
Two key interest rate decisions from overseas are due this morning: the Bank of England is expected to keep its key rate on hold at 0.5%, while the European Central Bank is widely expected to raise its key rate by 25 basis points to 1.5%.
The Bank of England decision is set for 7am ET, while the ECB announcement will come at about 7:45am ET.
As investors await that June jobs report, they'll have fresh data to consider this morning, when ADP puts out its monthly reading of private sector job growth at 8:15am ET.
Economists expect an addition of 95,000 new private sector jobs for June, compared to May's addition of 38,000 jobs.
Shortly after that, at 8:30am ET, the Labor Department is out with its weekly report on initial jobless claims, with consensus forecasts calling for a slight drop to 425,000 from last week's 428,000.
The EIA will issue its weekly report on natural gas inventories at 10:30am ET, and its weekly report on oil and gasoline inventories at 11am ET.
The latter report is delayed a day from its usual Wednesday release because of the July 4th holiday.
President Obama and Congressional leaders meet at the White House today in hopes of advancing talks to increase the nation's debt limit.
That comes amid reports that Treasury officials are quietly weighing options in case an extension does not occur before the August 2 deadline.
Affymetrix (AFFX) is a stock to watch today, as its shares plunge 17% after-hours on a second quarter revenue miss. Hot Topic (HOTT) rose after-hours after posting a surprise increase in June same-store sales.
American Airlines parent AMR (AMR) saw some buying interest after-hours as it reported a 1.3% gain in passenger traffic for June.
We'll watch shares of Live Nation (LYV), after cable mogul John Malone, one of the company's largest shareholders, said Live Nation could benefit from being taken private. Malone spoke at the Allen & Co. media conference in Sun Valley, Idaho.
That conference is also being attended by Berkshire Hathaway's Warren Buffett, who will be live on CNBC this morning for an hour starting at 8am ET.
He'll be joined during the hour by Coca-Cola (KO) CEO Muhtar Kent.
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