The December non-farm payrolls are out later on Friday. Market consensus is around 225,000, but Morningstar’s Bob Johnson expects less.

Bob,who is director of economic analysis at Morningstar, expects the US to have added between 150,000 to 200,000 jobs, arguing that the 321,000 jobs added in November were highly unusual. More importantly, he will be watching the report for clues as to the underlying strength of the US economy.