NEW YORK (CNN) -- CNN Money's Stacey Delikat has your top business and financial news on this Friday, June 7.
Preview: Jobs, jobs, jobs!
Today is the day that investors have been waiting for. The government is out with the latest monthly report on employment (at 8:30 ET). A CNNMoney survey of economists predicts the economy added 158,000 jobs and the unemployment rate remained at 7.5% in May. The 158,000 figure includes about 17,500 government job cuts and 175,000 jobs added in the private sector. If those numbers are accurate, it would be another so-so month for job growth. In April, 165,000 jobs were added.
Farewell 3% mortgage rates
Say goodbye to ultra-low mortgage rates. In the past month, rates have been on the rise and they are expected to continue to climb. This week, the average rate on a 30-year fixed-rate mortgage jumped another 10 percentage points to 3.91% and are up from 3.3% in early May, according to mortgage giant Freddie Mac. Meanwhile, those seeking a 15-year loan received an average rate of 3.03%, up from 2.56% -- a record low.
Audi system will guide drivers to parking spots
Audi, which is adding a feature to its cars that will let drivers pinpoint empty off-street parking spots. Audi's system will come from a company called Inrix, already a major provider of navigation information to automakers. The parking system will show rates and guide drivers to any of 18,000 parking garages and lots across the U.S.
Obama wants high-speed Internet in schools by 2018
Saying Web access is essential for students to compete in a wired world, President Obama on Thursday will announce an initiative to bring high-speed Internet to almost all of the nation's schools by 2018. "We are living in a digital age, and to help our students get ahead, we must make sure they have access to cutting-edge technology," said Obama in a statement released by the White House.