Jobs report, Fed speakers, Cracker Barrel earnings: 3 things to watch

By Liz Moyer

Investing.com -- Stocks wobbled as investors awaited Friday's highly anticipated jobs report for November amid signs the Federal Reserve was prepared to ease the pace of interest rate hikes.

Analysts expect tomorrow's report will show the economy created 200,000 jobs last month, lower than the October pace, despite a wave of layoffs that have hit the tech sector in recent weeks.

A loosening in the labor market would be a good sign to the Fed that its tightening actions to date are starting to have an effect. The Fed is largely expected to raise rates again when it meets this month for the last time this year, but it could raise rates by a slower half-percentage point increment rather than the 0.75 percentage point pace it has used at each of its last four meetings.

But Fed officials have been careful to signal they aren't done yet in their work to tame inflation, suggesting rates will continue to rise and stay higher for longer than expected.

Here are three things that could affect markets tomorrow:

1. Jobs report

The November jobs report is due out at 8:30 ET (13:30 GMT). Not only are analysts expecting the economy to add 200,000 jobs, they are expecting the unemployment rate to remain the same at 3.7%.

2. Evans speech

As the Fed heads into its last policy meeting of the year this month, Fed officials have been out speaking. Chicago Fed President Charles Evans is scheduled to speak tomorrow at 10:15 ET at an Economic Outlook Symposium at the Chicago Fed. On Thursday, the bank announced Evans successor after he steps down next year will be Austan Goolsbee.

3. Cracker Barrel earnings

The restaurant chain Cracker Barrel Old Country Store (NASDAQ:CBRL) is expected to report earnings per share of $1.21 on revenue of $836.9 million.