Good morning! Here's what you need to know. The US jobs report that's coming is a huge deal. There are growing expectations for the Fed to raise interest rates this year, potentially as soon as September. The Fed has stressed, however, that it will be "data dependent" in looking to raise rates. And so Friday's jobs report serves as the first of two huge litmus tests for the US labor market ahead of the Fed's September 17 policy announcement. German industrial production unexpectedly slumped in June. Figures just out from Germany's Destatis show production dipping by 1.4% from May, as opposed to the 0.4% climb analysts expected. Both France's President and Greece's Prime Minister expect the bailout deal to be wrapped up in August. A new bailout for Athens should be agreed by late August, Greek Prime Minister Alexis Tsipras and French President Francois Hollande said on Thursday. Tsipras said the new deal would be agreed soon after August 15; Hollande said by the end of the month. McDonald's has cut hundreds of corporate jobs. McDonald's said on Thursday it laid off in July 135 employees at its U.S. headquarters and 90 corporate employees posted overseas as part of a major restructuring at the fast-food chain, which has been fighting to reverse a long sales slump. Asian markets are up. Japan's Nikkei is 0.15% higher, Hong Kong's Hang Seng is up 0.94% and the Shanghai Composite is 2.15% higher. John Kerry says the Pacific trade deal must stay on track. US Secretary of State John Kerry expressed the need to forge ahead to "finish the job" on an ambitious Trans-Pacific Partnership (TPP) during a meeting with Vietnam's president on Friday, a week after lengthy talks in Hawaii ended with no deal. French industrial production is coming. At 7:45 a.m. UK time (2:45 a.m. ET) we'll get French industrial production figures for June. Analysts are expecting a 0.3% rise month-on-month following a 0.4% rise in May. Samsung's screenmaker wants to make a major investment in Vietnam. Samsung Display, a subsidiary of Samsung Electronics plans to invest another $3 billion (£1.93 billion) in Vietnam to boost display module production capacity, a person with direct knowledge of the matter told Reuters on Friday. HTC shares have tumbled. The Taiwanese phone maker's shares fell as far as they're allowed on Friday, tumbling by 10%, after it announced a dismal sales forecast 48% below market estimates and warned it would make a larger loss than investors expected during Q3, according to the Financial Times. Allianz profits beat estimates in Q2. According to the FT, net income rose by 15% to €2.02 billion ($2.21 billion, £1.42 billion), beating analyst estimates, though the insurance and asset management giant said much of the gain was not operating profit.Join the conversation about this story » NOW WATCH: Here are some incredible toys hedge fund boss Steve Cohen has bought with his billions
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