Stock futures fell and Treasury yields continued to rise on Friday ahead of the December payrolls report.
Expectations are for the Labor Department to report 170,000 nonfarm jobs were created last month, and for the unemployment rate to tick up a tenth to 3.8%. Hourly wages are seen rising by 0.3%.
Economists at Goldman Sachs have a slightly above-market forecast, of 190,000 jobs created. They note the seasonal adjustment factors could provide a tailwind as well as milder-than-usual winter weather in the Northeast and Midwest. But they did say lackluster holiday spending suggests a decline in retail payrolls along the lines of the 38,000 decline in November.
Bloomberg News reported a big options bet made on Thursday, that the 10-year yield will rise to as high as 4.15%.