Top 5 Things to Know This Morning By Investing.com

Top 5 Things to Know This Morning

EconomyNov 05, 2015 06:10AM ET

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Investing.com - Here are the top five things you need to know this morning, Thursday, November 5:

1. U.S. dollar jumps to 3-month high

The U.S. dollar rallied to the highest level since August 7 against a basket of six other major currencies after comments by Federal Reserve Chair Janet Yellen bolstered expectations for a rate hike in December.

Testifying before the House Financial Services Committee on Wednesday, Yellen described the U.S. economy as "performing well" and an interest rate hike in December as a "live possibility" if upcoming economic data were supportive.

2. U.S. data in focus

The U.S. is to release a weekly report on initial jobless claims at 8:30AM ET Thursday, as well as data on nonfarm productivity and unit labor costs.

Market players are also focusing on Friday's U.S. nonfarm payrolls report. The consensus forecast is that the data will show jobs growth of 180,000 in October, following an increase of 142,000 in September, while the unemployment rate is forecast to hold steady at 5.1%.

A strong nonfarm payrolls report was likely to add to already growing expectations for a December rate hike, while a weak number could undermine the argument for an early rate increase.

3. U.S. earnings season continues

Madison Square Garden Co (N:MSG), Time Inc (N:TIME), Molson Coors Brewing Company (N:TAP), Celgene Corporation (O:CELG), Ralph Lauren (N:RL), SeaWorld Entertainment Inc (N:SEAS) and Kate Spade & Co (N:KATE) will report earnings ahead of the opening bell.

After the market closes, Walt Disney Company (N:DIS), News Corp (O:NWSA), Kraft Heinz Co (O:KHC), Shake Shack (N:SHAK), Monster Beverage (O:MNST), Weight Watchers (N:WTW), NVIDIA Corporation (O:NVDA) and Dreamworks Animation (O:DWA) are on the earnings docket.

4. Bank of England Super Thursday

The Bank of England will release its rate decision as well as minutes of its Monetary Policy Committee meeting and its quarterly inflation report at 12:00PM London time, or 7:00AM ET, on Thursday. No policy change in expected.

Last month, the Monetary Policy Committee voted 8-1 to keep rates on hold at a record low 0.5%. Most market players expect the BOE to begin slowly raising interest rates in mid-2016.

5. China stocks enter bull-market territory

Chinese stocks closed in bull-market territory on Thursday, as government support underpinned a rebound from China's $5 trillion summer stock market rout. The Shanghai Composite is up more than 20% since hitting a recent low on August 26, meeting the definition of a bull market.

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