The Week Ahead: Monthly Job Data Due On Friday
1.Geopolitical and Fiscal Events. Thursday sees OPEC meet in Vienna.
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 ISM Index, construction spending, ADP Payroll, ISM Services, Beige Book, factory orders, nonfarm payrolls, unemployment rate and Michigan Sentiment.
3.Earnings Releases. Notable releases this upcoming week include COUP FNSR BMO DG LULU SNPS AVGO KR MTN BIG.
Monday, December 3
Markets open for the first day of trading post the dinner meeting between President Trump and President Xi.
November ISM Index is due out at 10:00 a.m. EDT and is expected to fall to 57.2 from 57.7.
October Construction Spending is also due out at 10:00 a.m. EDT and is expected to rise to 0.3% from 0%.
Tuesday, December 4
November Monthly Car and Truck sales are due out at 2:00 p.m. EDT.
Wednesday, December 5
U.S. Markets are closed for a national day of mourning for George Hubert Walker Bush the 41st President of the United States.
Several economic indicators and Congressional testimony are due out but they could be moved to Thursday, we will send an update when we know any changes.
November ADP Payroll Data is due out at 8:15 a.m. EDT and is expected to fall to 192,000 from 227,000.
November ISM Services is due out at 10:00 a.m. EDT and is expected to fall to 59 from 60.3.
Federal Reserve Chairman Powell will testify to the Joint Economic Committee about the outlook of the economy.
The latest Federal Reserve Beige Book is due out at 2:00 p.m. EDT.
Thursday, December 6
October Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to -2.0% from 0.7%.
OPEC will meet in Vienna to discuss production levels for 2019. Saudi Arabia is expected to take the lead role.
Friday, December 7
November Nonfarm Payrolls are due out at 8:30 a.m. EDT and are expected to fall to 189,000 from 250,000. The unemployment rate is expected to stay at 3.7%.
December University of Michigan Sentiment is due out at 10:00 and expected to fall to 96.8 from 97.50.