AHEAD OF HUGE JOBS REPORT: Here's What You Need To Know

thenews 2013.06.06 20:03

After falling to lows around noon, markets made a huge turnaround in anticipation of tomorrow's big jobs report.

First the scoreboard:

Dow: 15,040.39, +79.80 pts, +0.53%
S&P 500: 1,622.46, +13.57 pts, +0.84%

NASDAQ: 3,424.05, +22.58 pts, +0.66%

And now the top stories:

The morning started off with more madness from Japan. The Yen saw its biggest surge against the dollar in three years as Japanese Prime Minister Shinzo Abe announced new structural reforms. The Nikkei 225 closed down -0.85%. People may now begin to question the long-dollar/short-yen trade.
Initial jobless claims fell to 346,000, from an upward-revised 357,000 the previous week. Economists were predicting a slightly larger drop, to 345,000. Continuing claims fell to 2.952 million during the week ended May 25 from an upward-revised 3.004 million the week before.
The European Central Bank left rates unchanged. ECB chief Mario Draghi's comments during the press conference sent European stocks plunging and causing the Euro to pop against the dollar.
U.S. mortgage refinancing activity is starting to wane. The MBA refi index fell 15% for the week. We're now in the fourth-straight week of declines.