If you were hoping for a nice slow relaxing start to 2010, I hate to inform you that you are out of luck. We are starting off the new year with a bang. Every day this week is loaded with economic data. It starts with the all important ISM report and ends with Friday’s monthly jobs report. There are no major earnings reports this week though earnings season will pick up steam as we get into the latter portion of January. Let’s take a look at the calendar:
Monday –ISM will be the mover of the day. Economists are expecting a very robust reading of 54.8. The data should be fairly strong on the backs of the recent manufacturing releases out of Philly and Chicago.
ISM Mfg Index 10:00 AM ET
Construction Spending 10:00 AM ET
Dennis Lockhart Speaks 10:15 AM ET
Tuesday –Pending home sales and factory orders are released at 10AM. Both will be market moving events.
Motor Vehicle Sales
ICSC-Goldman Store Sales 7:45 AM ET
Redbook 8:55 AM ET
Factory Orders 10:00 AM ET
Pending Home Sales Index 10:00 AM ET
Wednesday – ISM non-manufacturing and FOMC minutes will be major market movers.
Challenger Job-Cut Report 7:30 AM ET
ADP Employment Report 8:15 AM ET
ISM Non-Mfg Index 10:00 AM ET
EIA Petroleum Status Report 10:30 AM ET
FOMC Minutes 2:00 PM ET
Thursday – We’ll see if the downtrend in jobless claims continues. Economists are looking for 445K claims. Chain store sales will also set an early tone for how strong the holiday spending was.
Chain Store Sales
Monster Employment Index 6:00 AM ET
BOE Announcement 7:00 AM ET
Jobless Claims 8:30 AM ET
30-Yr Bond Announcement 9:00 AM ET
EIA Natural Gas Report 10:30 AM ET
Friday – The jobs report will be the big news of the week. Interestingly, investors might not want a robust report as we saw last month. Strong jobs will mean we’re nearing Fed rate hikes and the equity markets will likely respond unfavorably to that. Economists are currently looking for no change in jobs – a report the market would likely rally on.
Employment Situation 8:30 AM ET
Wholesale Trade 10:00 AM ET
Jeffrey Lacker Speaks 1:35 PM ET
Consumer Credit 3:00 PM ET
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.