President Donald Trump faces reporters as he departs for travel to Tupelo, Mississippi from the South Lawn of the White House in Washington, November 1, 2019.
Tom Brenner | Reuters
Here are the most important things to know about Wednesday before you hit the door
1. Jobs data
We'll get a first reading on the strength of the November labor market on Wednesday with private payroll data from ADP coming out at 8:15 a.m. Economists surveyed by Dow Jones are estimating 150,000 jobs added in November, a faster pace than the 125,000 jobs added in October.
Wednesday's ADP job count comes ahead of Friday's more closely watched Labor Department nonfarm payrolls report. A robust job market could curb investors fears that the U.S. economy may be weakening, especially in the face of negative trade headlines. Data on Tuesday showed manufacturing activity in the U.S. continued to contract last month, the Institute for Supply Management said.
2. Services gauge
We'll get a read on whether activity in the U.S. services sector is slipping like the manufacturing sector. The Institute for Supply Management's nonmanufacturing economic reading will be released at 9 a.m on Wednesday. Economists polled by Dow Jones are forecasting a read of 54.5 for November, down from 54.7 in October. A reading above 50% signals expansion.
The service sector, which accounts for more than two-thirds of U.S. economic activity, has been expanding for 117 straight months, according to the survey-based ISM index. A reading in-line with estimates would bring its expansion to 118 months.
3. Trump on trade
President Donald Trump will meet German Chancellor Angela Merkel on the sidelines of the NATO Heads of State and Government meeting on Wednesday in the U.K. Investors will be closely watching for Trump's comments on trade. The gathering comes amid overt tensions between some leaders regarding spending pledges, how to tackle the challenges posed by Russia and China, and the relevance of NATO itself.
Stocks sold off on Tuesday after Trump suggested he may want to delay a trade deal with China until after the 2020 presidential election. Trump later downplayed the stock market's losses as "peanuts" and won't force him to make a bad trade deal with China.
Major events (all times ET):
7:30 a.m. President Trump in bilateral meeting with German Chancellor Merkel
8:15 a.m. ADP employment
9:45 a.m. Services PMI
10 a.m. ISM nonmanufacturing
10 a.m. Fed Vice Chairman Randal Quarles at House Financial Services Committee
Major earnings:
Campbell Soup (before the bell)
Royal Bank of Canada (before the bell)
Slack (after the bell)
RH (after the bell)
Five Below (after the bell)
H&R Block (after the bell)
"jobs" - Google News
December 04, 2019 at 03:12AM
https://ift.tt/387o78r
Jobs data, services gauge, Trump meets Merkel: 3 things to watch for Wednesday - CNBC
"jobs" - Google News
https://ift.tt/36m99ub
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
No comments:
Post a Comment