Traders await the Friday 8:30am.....>

US DATA PREVIEW: Traders await the Friday 8:30am ET September nonfarm payroll

employment report, which could be skewed by recent hurricanes. The MNI economist

poll has median estimates of +70k overall with large uncertainty in this

forecast, shown by a range from -45k to +125k. Hurricanes Harvey and Irma are

expected to be a drag on the headline number, given the negative impact of past

storms and BLS's estimate that 7.7% of those employed nationally are in FEMA

designated counties. MNI poll had median ests for 65K private payrolls gain,

4.4% jobless rate, and 0.3% Avg Hrly Earns. 

- DB Brett Ryan and Matthew Luzzetti: 50K forecast "assumes a substantial impact

from the recent hurricanes; initial print in Sept. 2005 after Hurricane Katrina

was -35k, well below the previous 3-mo trailing avg around 175k at the time." 

- MS Ellen Zentner: "120,000 net new jobs," stable 4.4% jobless rate and 0.2%

Avg Hrly Earnings increase, leaving yr-/yr rate at 2.5%.

- Jefferies Ward McCarthy: -45K NFP, private jobs -25K, 0.3% AHE, 4.5%

unemployment rate. 

- Danske economists: expect 90K jobs gain.