September Jobs Report, Manufacturing Data To Provide A Snapshot About Health Of Economy; The Week Ahead

Investors will be paying close attention to the September jobs report that is released later in the week for signs about the health of the U.S. labor market.

Last week investors scrutinized developments related to Deutsche Bank as the German finance institution attempts to settle a $14 billion fine from the U.S. Department of Justice.

On Friday shares of Deutsche Bank rallied over 6 percent on news that the U.S. Department of Justice was preparing to lower its fine to $5.4 billion.

The Week Ahead

At the beginning of the week on Monday Euro area and U.S. Markit Manufacturing PMI will be released, the same day the September ISM index is reported in the U.S.

Economists from have a consensus estimate that the U.S. ISM index rose to 50.4 in September, after falling below 50 and reaching 49.4 in August.

On Friday the U.S. Labor Department will report the closely watched non-farm payroll report for September.

Economists from have a consensus forecast that the U.S. economy added 176,000 jobs in September which comes after the August jobs report came in lower than expected at 151,000.

On Wednesday private sector payroll processor ADP will report employment change for September.

Also on Wednesday, factor orders for August will come into focus, the same day ISM services for September is released.

The IMF and the World Bank Group will convene in Washington, D.C. on Friday for an annual meeting.

Full Economic Calendar

Monday- ISM Index (Sept), Euro area and U.S. Markit Manufacturing PMI, Construction Spending (Aug.), Auto/Truck Sales (Sept.)

Tues.  None

Wednesday- ADP Private sector employment (Sept.), Factory Orders (Aug.), Trade Balance (Aug.), ISM Services (Sept.), MBA Mortgage Index, Crude Inventories

Thursday- Initial and Continuing Claims, Challenger Job Cuts (Sept.), Natural Gas Inventories

Friday- Non-farm payroll report (Sept.), IMF and the World Bank Group will convene in Washington, D.C. on Friday for an annual meeting

Written By:

Johnathan Schweitzer



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