The markets: The non-farm payroll jobs report is due at 8.30 a.m. today. Expectations: jobs up by 155,000; unemployment to stay at 4.2%. ... U.S. stocks were broadly flat yesterday with the S&P 500 still under the 6000 threshold. ... US futures called for further declines pre-open. ... Europe and Asia were marginally down this morning.
Today: The Los Angeles fires are not yet under control because LA’s water-supply infrastructure is not capable of generating the sustained pressure necessary to support firefighters at scale, indefinitely, against five separate blazes. Firefighters have made some progress, however. The death toll is now at 10. More than 9,000 buildings have been razed. 130,000 people have been ordered to evacuate areas north of the city. LA Times coverage here.
