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.

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Silicon Valley Howls With Laughter At Thought Of Meg Whitman Being CEO Of HP

We'll admit that we were a bit startled to hear that the HP board is already throwing in the towel on CEO Leo Apotheker after less than a year--and even more startled to hear that former eBay CEO Meg Whitman was his rumored replacement.

Meg did a great job at eBay in the early years, but she checked out in the later ones, and the only thing that HP and eBay have in common is that they're both in the Valley.

What we're most startled by, however, is the speed with which the Valley's tech pundits have gone public to ridicule the idea of Meg running HP.

Here, for example, is Elevation Partners partner Roger McNamee, as quoted by David Streitfeld in the New York Times:

"The notion that H.P. can be fixed by adding a celebrity chief executive is laughable."

(Okay, maybe Roger's trashing HP, not Meg).

And here's Charles House, a former HP engineer, also quoted in the New York Times:

Ms. Whitman would be “an unmitigated disaster...Her style is so arrogant it gags.”

Yale School of Management Jeffrey Sonnenfeld also walloped Meg:

“It’s not a ridiculous choice...But they could have done better.”

Not exactly raves.

Meg certainly doesn't need the money--she's an eBay billionaire--and one suspects she also doesn't need the headaches. So one wonders whether the Valley-wide Bronx cheer will have her and the HP board reconsidering.

See Also: Check Out How Much Severance HP's Apotheker Will Get For Getting Fired In A Year

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