Jobs Report May Mean More to Presidential Race Than Markets
Published: Thursday, 4 Oct 2012 | 4:32 PM ET
By: JeeYeon Park
CNBC.com Writer
Traders say Friday's jobs report may have more impact on the presidential race than the markets, though investors will still be watching closely.
Economists expect employers added 113,000 jobs in September, while the unemployment rate edged up to 8.2 percent from August's 8.1 percent, according to a Reuters survey. Friday’s report will be the second-to-last before the November election.
“Because of [this jobs report’s] juxtaposition to election, there will be significant political ramifications, perhaps more so than for the market,” said Art Hogan, managing director at Lazard Capital Markets. "Politically, anything that pushes the cause of the Romney camp forward could have a positive effect on the market."
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However, Krosby warned that investors need to be prepared for a drop in equities if the jobs number comes in “significantly lower than expected.”
More: http://www.cnbc.com/id/49290835
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