The Week Ahead -Ends With Monthly Jobs Data
All major stock indexes rose this past week. Correction Price Pattern Status for S&P 500: Last week’s action saw all indexes move higher for the third time in four weeks. The S&P 500 and all other indexes are back above their June lows but below their August and December highs.
1. Geopolitical and Fiscal Events. The Federal Reserve Open Market Committee (FOMC) meets on Tuesday and Wednesday. The Bank of England and the European Central Bank meets on Thursday. Fed Speakers are highlighted on our Twitter Handle - Bullet86.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and Chicago PMI, Case-Schiller Home Price Index, Consumer Confidence, ADP Payroll Report, Construction Spending, ISM Manufacturing Index, Factory Orders, Nonfarm Payrolls, Unemployment Rate and ISM Non-Manufacturing Index.
3. Earnings Releases. Notable releases this upcoming week include: NXPI GEHC (Mon) XOM PFE (Tues) META TM (Wed) AAPL AMZN (Thurs) SNY CI (Fri).
Monday, January 30th
No events or releases of note.
Tuesday, January 31st
January Chicago PMI is due out at 8:30 a.m. EST and is expected to rise by 45.4 from 44.9 in December.
November S&P Case-Schiller Home Price Index is due out at 9:00 a.m. EST and is expected to fall to 6.8% from 8.6% in October.
December Consumer Confidence is due out at 10:00 a.m. EST and is expected to fall to 108.1 from 108.30.
Wednesday, February 1st
January ADP Payroll Report is due out at 8:15 a.m. EST and is expected to fall to 170,000 from 235,000.
December Construction Spending is due out at 10:00 a.m. EST and is expected to fall to 0% from 0.2%.
January ISM Manufacturing Index is due out at 10:00 a.m. EST and is expected to fall to 48% from 48.4%.
OPEC+ Committee Meeting happens but do not have a specific time yet. Watch Twitter for a time.
The latest FOMC Decision is due out at 2:00 p.m. EST with a press conference at 2:30 p.m. EST.
Thursday, February 2nd
December Factory Orders are due out at 10:00 a.m. EST and are expected to come in at 2.2% from 1.0%.
Friday, February 3rd
January Nonfarm Payrolls are due out at 8:30 a.m. EST and are expected to come in at 190,000 from 223,000 in December. The unemployment rate is expected to rise to 3.6% from 3.5%.
January ISM Non-Manufacturing Index is due out at 10:00 a.m. EST as well and is expected to come in at 50.3% from 49.60% in December.