SPY - Wall Street Breakfast: Eyeing Payrolls Progress

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Stitcher and Spotify. Eyeing payrolls progressThe Federal Reserve wants to see “substantial progress” in the economy before it makes any move towards removing accommodation. They haven't specifically defined what that is, but they'll know it when they see it.But if Fed Chairman Jerome Powell has used his press conferences for anything, it's to hammer home the point that he's still very concerned about the labor market, one-half of the Fed's dual mandate. “I'd say we have some ground to cover on the labor market side,” Powell said after July's decision dropped. “I think we're some ways away from having had substantial further progress toward the maximum employment goal.”The July employment report arrives today at 8:30 a.m. ET, with economists, on average, looking for nonfarm payrolls to rise by 870K,

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Wall Street Breakfast: Eyeing Payrolls Progress