On Friday's headline employment.....>

US DATA PREVIEW: On Friday's headline employment report, Morgan Stanley

economists "expect some improvement in April and look for job gains to come in

at 145,000." MS also forecasts a "0.2% increase in average hourly earnings,

following a 0.3% gain in March, which would hold the year-over-year rate at

2.7%." TD Securities economists are "looking for a strong jobs report with 210k

in payrolls, a 4% unemployment rate but a more muted 0.2% earnings growth. Note

that yoy average hourly growth should remain around 2.7%." Deutsche Bank said

there should be "some rebound from last month's likely weather-distorted

payrolls, especially as the construction sector experienced the largest drop in

monthly payroll additions (from +65k in February to -15k in March) since April

2007."