If You Thought Last Week Was Wild, Check Out What's Coming This Week

  x You have successfully emailed the post. Last week was incredibly volatile for the market, as the news flow was massive in the US, Europe, and China.

This week should be another biggie, just based on the economic data on tap.

Each day there will be big earth movers coming.

Monday:

ISM manufacturingConstruction spendingVehicle sales

Tuesday:

Factory ordersChain store sales

Wednesday:

Jobs week begins with the ADP reportAlso: ISM non-manufacturing

Thursday

FRIDAY:

THE JOBS REPORT!!!Consumer credit

Here's the outlook on the jobs report from Nomura:

Employment report: We are forecasting an increase in total nonfarm payrolls in September of 60k, with private payrolls increasing 80k and manufacturing payrolls rising by 5k. Assuming no revisions to past data, a data release in line with our forecast would lead to a 3-month moving average for job creation of just 48k in September, sharply slower compared with a high for 2011 of 215k in April, and further ruffling the feathers of the doves on the FOMC that would like to provide more stimulus for the labor market. The economic outlook remained “unusually uncertain” in September, still fuel led by fears of European contagion and stock market volatility. The Verizon strike of 45k workers, which negatively impacted August payrolls, should provide a boost to September payrolls of similar magnitude. Elsewhere, we believe the average work week ticked back up to 34.3 hours and average hourly earnings increased by 0.2% following a decline of 0.1% in August. We also forecast that the unemployment rate held steady at 9.1%.

Meanwhile, expect a ton of news from Europe, the US (watch the banks, especially in the wake of California's decision to drop out of the foreclosure-gate settlements, and the newfound concerns about Morgan Stanley) and of course any drips and drabs out of China.

Please follow Money Game on Twitter and Facebook.
Follow Joe Weisenthal on Twitter.
Ask Joe A Question >

x

To embed this post, copy the code below and paste into your website or blog.

View the original article here

This post was made using the Auto Blogging Software from WebMagnates.org This line will not appear when posts are made after activating the software to full version.