Tuesday 29th
10:00 AM ET
US JOLTS Job Openings
The US Job Openings and Labor Turnover Survey (JOLTS) Job Openings report, produced monthly by the US Bureau of Labor Statistics, provides data on the total number of unfilled job vacancies across various industries on the last business day of the reporting month.
As the Fed wants a slowdown in hiring, the JOLTS data will want to show that demand for jobs has slowed.
US CB Consumer Confidence
The Consumer Confidence Index (CCI), compiled and published by the Conference Board, is a crucial economic indicator reflecting consumer sentiment about the economy and personal financial prospects. Through surveys of representative households, it assesses consumer optimism or pessimism regarding current economic conditions and future expectations. This index serves as a key tool for predicting consumer spending behavior—higher confidence generally correlates with increased spending, investment, and economic activity, while lower confidence can lead to cautious spending patterns, influencing overall economic health and policy decisions.
Wednesday 30th
8:15 AM ET
US ADP Employment Change
The US ADP Employment Change measures the estimated change in the number of employed people in the United States, excluding farm workers and government employees.
It's based on data from ADP's extensive payroll database and serves as an early indicator of the health of the labor market before the official Nonfarm Payrolls (NFP) report is released.
The key difference between ADP and NFP is in the sources and timing.
The ADP Employment Change comes from ADP's payroll data and is released a few days before the official NFP report.
The NFP report, on the other hand, comes directly from the US government and is released on the first Friday of each month. While both reports provide insights into employment trends, the NFP report is considered the more comprehensive and authoritative measure due to its government source and broader coverage of the labor market.
8:30 AM ET
US GDP
US GDP, or Gross Domestic Product, is a key economic indicator that measures the total value of all goods and services produced within the United States. It reflects the economic activity and overall size of the US economy, encompassing consumer spending, business investments, government spending, and net exports (exports minus imports).
GDP provides insights into economic growth, performance, and trends, helping assess the health and direction of the country's economy.
Thursday 31st
8:30 AM ET
US Jobless Claims
US initial jobless claims represent the number of people who have recently filed for unemployment benefits for the first time. It's a weekly indicator of the number of individuals newly unemployed and seeking financial assistance.
US continuing jobless claims show the total number of people who are currently receiving unemployment benefits. This includes individuals who have been unemployed for some time and are still eligible for benefits.
US Consumer Spending
The U.S. Bureau of Economic Analysis releases the "Personal Income and Outlays" report on a monthly basis, providing crucial insights into consumer spending. This report encompasses key indicators such as personal income, personal consumption expenditures (including goods and services), the PCE Price Index, and the Core PCE Price Index, offering a comprehensive overview of household finances, consumer behavior, and inflation trends.
US PCE Price Index
The US Personal Consumption Expenditures Price Index is a measure for tracking changes in the average prices of goods and services purchased by American consumers. As a key indicator of inflation, it holds significance for economists, policymakers, and financial markets, providing insights into the overall trajectory of consumer price shifts.
Distinguished by its comprehensive coverage of expenditures and its flexibility in accounting for changes in consumer preferences, the index offers a broader perspective on inflation compared to measures like the Consumer Price Index.
Friday 1st
8:30 AM ET
US Nonfarm Payrolls
US nonfarm payrolls represent the total number of paid workers excluding agricultural, household, nonprofit, and government employees. Released monthly by the US Bureau of Labor Statistics, it encompasses key components such as the net change in jobs, the unemployment rate, average hourly earnings, and average weekly hours worked.
Widely monitored by economists, policymakers, and financial markets, this data provides a comprehensive view of employment trends across sectors, offering valuable insights into the health of the labor market and guiding decisions ranging from economic policy to investment strategies.
Fed officials at last week's Jackson Hole Symposium reiterated that sticky employment is undesirable for inflation. Therefore, suggesting a cooler-than-expected print may be favorable for the Fed which is favorable for stocks.
US Unemployment Rate
The US unemployment rate is the percentage of the labor force that is currently unemployed and actively seeking employment. It's a key measure of the health of the job market and reflects the proportion of the workforce facing joblessness.
The unemployment rate focuses on the percentage of people unemployed, while nonfarm payrolls provide the total number of people employed in sectors other than farming. Both metrics offer insights into labor market dynamics, but they capture different aspects of employment conditions.
Because nonfarm Payrolls is sourced from business surveys, and the Unemployment rate from household surveys, the results can be different and contradictory at times.
9:45 AM ET
US S&P Manufacturing PMI Final
The US S&P Manufacturing Purchasing Managers' Index is a monthly economic indicator that measures the activity level of the manufacturing sector. It's based on surveys of purchasing managers in manufacturing companies, who provide insights into factors like new orders, production, employment, supplier deliveries, and inventories.
The index is designed to reflect the overall health and trends in the manufacturing industry.
As a diffusion index, a PMI reading of 50 and above indicates expansion in the sector, while a reading below 50 suggests contraction.
10:00 AM ET
US ISM Manufacturing PMI
The US ISM Manufacturing Purchasing Managers' Index is a widely followed economic indicator that measures the health of the manufacturing sector, much like the S&P report.
The main difference between the US ISM Manufacturing PMI and the S&P Manufacturing PMI is in the organizations conducting the surveys and the specific methodologies used.
The ISM PMI is published by the Institute for Supply Management, while the S&P Manufacturing PMI is published by IHS Markit.
Both indices serve similar purposes, but due to differences in methodology and survey panels, their readings might vary slightly and provide complementary insights into the manufacturing sector's performance.
