Following last Friday’s jobs report for October that came slightly below consensus estimates with 161,000 non-farm payroll jobs added, investors are shifting this week to the outcome of the U.S. presidential election on Tuesday when Americans will elect the 58th U.S. president.
Quarterly corporate earnings are still in play this week but the majority of corporations have already reported earnings and the outcome of the political elections in the U.S. is expected to weigh heavily in the market this week with the upcoming holiday season just weeks away.
U.S. economic data is light this week.
On Monday consumer credit for September is reported.
The Treasury budget for October is reported on Thursday, the same day weekly initial and continuing claims are due.
On Friday Michigan Sentiment for October is released.
U.S. Economic Calendar
Monday- Consumer Credit (Sept)
Tuesday-JOLTS-job openings (Sept)
Wednesday- Wholesale Inventories (Sept.), MBA Mortgage Index, Crude Inventories
Thursday- Initial and Continuing Claims, Natural Gas Inventories, Treasury Budget (October)
Friday- Michigan Sentiment (Oct.)