August 13, 2020 07:43 AM RSS

The Week Ahead Brings In A New Congress

  • Wall Street Rebel | Geoff Garbacz
  • 12/30/2018 10:19 PM
The Week Ahead Brings In A New Congress

1.Geopolitical and Fiscal Events. The U.S. Government remains in a limited shut down. Many markets closed this week for New Year’s Eve and after celebrations. Friday sees Federal Reserve Chairman Powell and his two predecessors will be interviewed on Friday in Atlanta. 

2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as ADP Payroll, construction spending, ISM Manufacturing Index, Nonfarm Payroll and the unemployment rate.

3.Earnings Releases. No notable releases this upcoming week with several minor releases.

Monday, December 31

Many markets around the world are closed for New Year’s Eve including Germany and Japan. Japan remains closed until Friday.

Tuesday, January 1

Markets are closed around the world for the first day of the new year, the year of the pig in China. Wednesday, January 2

No events of note.

Thursday, January 3

December ADP Payroll is due out at 8:15 a.m. EDT and is expected to come in at 170,000 from 179,000.

November Construction Spending is due out at 10:00 a.m. EDT and is expected to improve to 0.3% from -0.1%.

December ISM Manufacturing Index is also due out at 10:00 a.m. EDT and is expected to fall to 57/98 from 59.3.

Monthly car and truck sales are due out at 2:00 p.m. EDT.

The 116th U.S. Congress will be sworn in as the Democrats take control of the House while the Republicans maintain control of the Senate.

Friday, January 4

December Nonfarm Payrolls are due out at 8:30 a.m. EDT and are expected to rise to 180,000 from 155,000. The unemployment rate is expected to remain at 3.7%.

Federal Reserve Chairman Jerome Powell and his two predecessors Janet Yellen and Ben Bernanke will be interviewed at the American Economic Association (AEA) annual meeting in Atlanta.

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