by Bill McBride on 12/03/2016 08:11:00 AM
This will be a light week for economic data.
The key reports are the ISM non-manufacturing index, Job Openings, and the October trade deficit.
The Q3 Quarterly Services and the Fed’s Q3 Flow of Funds reports will be released this week.
—– Monday, Dec 4th —–
10:00 AM ET: The Fed will release the monthly Labor Market Conditions Index (LMCI).
10:00 AM: the ISM non-Manufacturing Index for November. The consensus is for index to increase to 55.5 from 54.8 in October.
—– Tuesday, Dec 5th—–
8:30 AM: Trade Balance report for October from the Census Bureau.
This graph shows the U.S. trade deficit, with and without petroleum, through September. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.
The consensus is for the U.S. trade deficit to be at $42.0 billion in October from $36.4 billion in September.
10:00 AM: Manufacturers’ Shipments, Inventories and Orders (Factory Orders) for October. The consensus is a 2.7% increase in orders.
—– Wednesday, Dec 6th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
10:00 AM: Job Openings and Labor Turnover Survey for October from the BLS.
This graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
Jobs openings decreased in September to 5.486 million from 5.453 million in August.
The number of job openings (yellow) were up 2% year-over-year, and Quits were up 12% year-over-year.
3:00 PM: Consumer credit from the Federal Reserve. The consensus is for a $19.0 billion increase in credit.
—– Thursday, Dec 7th —–
8:30 AM ET: The initial weekly unemployment claims report will be released. The consensus is for 255 thousand initial claims, down from 268 thousand the previous week.
10:00 AM: The Q3 Quarterly Services Report from the Census Bureau.
—– Friday, Dec 8th —–
10:00 AM: University of Michigan’s Consumer sentiment index (preliminary for December). The consensus is for a reading of 94.1, up from 93.8 in November.
10:00 AM: Monthly Wholesale Trade: Sales and Inventories for October. The consensus is for a 0.4% decrease in inventories.
12:00 PM: Q3 Flow of Funds Accounts of the United States from the Federal Reserve.