The Week Ahead

Investors will pay close attention this week to the Fed’s 2 day monetary policy meeting and the October employment report to gain more clarity about the health of the U.S. economy which follows September’s weak non-farm payroll report that went into negative territory and declined – 33,000, largely due to the hurricanes that hit Texas and Florida.

U.S. stock indexes hit fresh new record highs in October, boosted by hopes for large scale tax cuts in the U.S., decent corporate earnings, and a European Central Bank that remains committed to maintaining a dovish monetary policy.

Investors will analyze the U.S. October jobs report this week to determine whether the U.S. economy bounced back following the hurricanes that hurt the pace of job growth in September.

The ADP employment report, measuring private sector job growth, is due on Wednesday while the U.S. non-farm payroll report is released Friday morning.

The Fed’s 2 day meeting wraps up on Wednesday and Committee members at the U.S. Central Bank aren’t expected to raise interest rates. There won’t be any press conference scheduled at the conclusion of the October meeting.

U.S. GDP

Last Friday, the U.S. Commerce Department reported that GDP for the 3rd quarter of 2017 increased 3.0 percent, according to the advanced estimate, following 3.1 percent in the 2nd quarter.

U.S. Economic Calendar

Monday- Personal Income and Outlays

Tuesday- FED- FOMC Meeting begins, Case Shiller, Chicago PMI, Consumer Confidence

Wednesday-ADP Employment report, Motor Vehicle Sales, MBA Mortgage Applications, PMI Manufacturing Index, ISM Mfg Index, Petroleum report, Construction Spending

Thursday- Challenger Job Cuts, Weekly jobless claims, Natural Gas report

Friday- U.S. Non-farm payroll, International Trade, PMI Services Index, Factory Orders, ISM Non-Mfg Index

Written and Edited By:

John Schweitzer

@SchweitzFinance

@Schweitz31

schweitz31@gmail.com

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