The economic calendar for the upcoming week is filled with significant data releases and events that could potentially influence the stock market. Here’s a detailed look at the key economic indicators and their potential implications.
Monday, October 30
At 3:00 pm, the Treasury will release borrowing estimates for Q4. This data can impact the bond market, which in turn, can influence the stock market. Higher borrowing can lead to higher interest rates, which can negatively impact stocks.
Tuesday, October 31
Several key indicators will be released, including the Employment Cost Index for Q3 at 8:30 am, the S&P Case-Shiller Home Price Index for August at 9:00 am, the Chicago Business Barometer (PMI) for October at 9:45 am, and the Consumer Confidence for October at 10:00 am. The Employment Cost Index, which measures the change in labor cost, is forecasted to be 1.0%. A higher-than-expected reading can be considered negative or bearish for the stock market, while a lower-than-expected reading is positive or bullish.
Wednesday, November 1 (Interest Rate Decision 2PM)
The ADP Employment for October will be released at 8:15 am, the Treasury Quarterly Refunding Statement for Q4 at 8:30 am, the S&P U.S. Manufacturing PMI for October at 9:45 am, Job Openings for September at 10:00 am, the ISM Manufacturing for October at 10:00 am, and Construction Spending for September at 10:00 am. The Federal Reserve will also make a decision on interest rates at 2:00 pm, followed by a press conference by Fed Chairman Powell at 2:30 pm. The ADP Employment, which measures the monthly change in nonfarm, private employment, is forecasted to be 150,000, compared to the previous 89,000.
Thursday, November 2
The Initial Jobless Claims for the week ending October 28 will be released at 8:30 am, U.S. Productivity for Q3 at 8:30 am, U.S. Unit-Labor Costs for Q3 at 8:30 am, and Factory Orders for September at 10:00 am. The Initial Jobless Claims are forecasted to be 215,000, compared to the previous 210,000. This could be seen as a negative sign for the economy and potentially bearish for the stock market.
Friday, November 3
The U.S. Nonfarm Payrolls for October will be released at 8:30 am, U.S. Unemployment Rate for October at 8:30 am, U.S. Hourly Wages for October at 8:30 am, Hourly Wages Year Over Year at 8:30 am, S&P U.S. Services PMI for October at 9:45 am, and ISM Services for October at 10:00 am. The Nonfarm Payrolls, which measures the change in the number of people employed during the previous month, excluding the farming industry, is forecasted to be 175,000, compared to the previous 336,000. This could be seen as a negative sign for the economy and potentially bearish for the stock market.
In conclusion, the upcoming week’s economic calendar is filled with significant data releases that could significantly impact the stock market. Investors and traders should closely monitor these economic indicators as they can provide valuable insights into the health of the economy and potential future movements in the stock market.
Disclaimer: The author of this article is not a licensed financial advisor. This article is intended for informational purposes only. It should not be considered financial or investment advice.