Glad Monday! The primary full trading week of the 12 months encompasses a relatively heavy roster of economic data.
The ISM Services Index on Tuesday is anticipated to point out a slight acceleration in activity for the services industry. Economists estimate that the gauge rose to 53.2 in December from 52.1 in November.
The Institute of Supply Management notes that readings above 50 indicate that the services sector is “generally expanding,” while anything below 50 indicates that the sector is “generally contracting.”
The ISM Manufacturing Index, released last week, increased to 49.3 from 48.4.
On Wednesday, the Federal Reserve releases the minutes of December’s Federal Open Market Committee meeting.
The stock market plummeted following the Fed’s last meeting when the U.S. central bank signaled that it would cut rates only two times in 2025, disappointing investors who had hoped for a more aggressive rate-cutting campaign this 12 months.
The minutes of that meeting may provide more clues as to how Fed officials are enthusiastic about monetary policy. The subsequent FOMC meeting is scheduled for Jan. 31 to Feb. 1.
Finally, on Friday morning, the most important piece of economic data of the week is ready for release: December’s nonfarm payrolls report.
Employers are expected to have added 153,000 jobs in December, down from 227,000 in November, but still a healthy number.
At the identical time, the unemployment rate is anticipated to carry regular at 4.2%.
The roles report shall be followed by the University of Michigan Sentiment Survey later that morning. Consumers have been feeling higher in regards to the economy in recent weeks, a trend that investors hope will proceed.