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VIDEOTrading Radar: Unemployment Expected to Climb
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This past week investors were greeted with a better than expected GDP number. It was the first time in four quarters we've seen positive GDP. Although the majority of the number came from government stimulus programs, it was still good enough that economists started calling the recession over.
Next week, investors will be focused on an FOMC meeting and the jobs numbers. Analysts are expecting the unemployment rate to climb to 9.9%, inching ever so close to the 10% level. With unemployment so high, how can we call the recession over? See also We've Seen the Future, And It's Unemployed.
Monday, November 2
Economics
10:00 Construction Spending -0.4% cons.
10:00 ISM Index 53.0 cons.
10:00 Pending Homes Sales 0.4% cons.
Earnings
Before: CSE, CLX, CTB, DF, F, HUM, L, PRGO, SYY,
After: APC, CAR, BRE, CHK, CRK, DIOD, DLLR, FST, HLF, KGC, LF, MNKD, SVR, TXRH, UDRL, VMC
Speeches
10:30 Daniel Tarullo
Tuesday, November 3
Economics
10:00 Factory Orders 1.0% cons.
Earnings
Before: ANR, AMT, ABC, ADM, BJS, CAM, CHD, XEC, CFX, EMS, EMR, ENR, EXPD, GWR, IPGP, ICE, JRCC, LPX, MRO, MLM, MVl, MA, OSK, PKD, PER, RL, ROK, RCL, JOE, VIA.B, VNO
After: ACAS, AUDC, BGFV, BBBB, SAM, CRL, COGT, CCI, DRIV, DISCA, DUF, DXPE, ESS, EXM, HIG, KCP, KFT, MRH, MYGN, ONXX, PACR, PZZA, PXD, BID, TWTC, THS, TRLG, VVUS, WDMD, INT, AUY
Wednesday, November 4
Economics
07:30 Challenger Job Cuts
08:15 ADP Employment Report -190k cons.
10:00 ISM Services 51.7 cons.
10:30 Crude Inventories
02:15 FOMC Rate Decision
Earnings
Before: AGU, AFAM, WTF, BDX, CEDC, CKP, CMCSA, DVN, DNDN, EBIX, EPB, FWLT, GRMN, MMC, LOGN, TAP, PHM, TWX, RIG, TEL, WPI, XTO
After: NDN, ALL, ALJ, ARII, ANDE, CELL, CECO, CSCO, TRAK, EGLE, ESLR, FRT, GG, GDP, LLNW, MELI, MCHP, MUR, N, NWSA, ONNN, PRU, QCOM, RUBO, THQI, UNTD, WFMI
Events
07:00 BOE Announcement
07:45 ECB Announcement
Thursday, November 5
Economics
08:30 Productivity 5.8% cons.
08:30 Initial Claims
08:30 Continuing Claims
Earnings
Before: ARE, BVF, BX, CVC, CNQ, CAH, CI, CNSL, CVS, DTV, DPS, DYN, FSYS, FTEK, GLS, GLG,HGG, HOC, HURN, IMAX, INCY, KSWS, LINC, PCS, MGM, NDAQ, OMG, OCR, HK, PLA, SIRI, SMBL, TRI, TWC, TWGP, USM, WEN, WWE
After: ATVI, ALNY, APEI, BEBE, NILE, CPKI, CBS, CROX, ELON, EBS, XIDE, EOG, HANS, IGT, IPI, JAZZ, NVDA, OWW, PSA RRGP, SWKS, SBUX, KNOT, VRSN
Friday, November 6
Economics
08:30 Nonfarm Payrolls -166k cons.
08:30 Unemployment Rate 9.9% cons.
08:30 Average Workweek 33.1 cons.
08:30 Hourly Earnings 0.1% cons.
10:00 Wholesale Inventories -1.0% cons.
02:00 Consumer Credit -10.0B
Earnings
Before : AER, XTEX, FIG, EIX, OSMT, TNP, SU
After:
Speeches
08:00 Tim Geithner
03:00 Elizabeth Duke
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