Trading Radar: Unemployment Expected to Climb
Rain or shine, we review the day's biggest stock stories.
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
10:00 Construction Spending -0.4% cons.
10:00 ISM Index 53.0 cons.
10:00 Pending Homes Sales 0.4% cons.
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
10:30 Daniel Tarullo
Tuesday, November 3
10:00 Factory Orders 1.0% cons.
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
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
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
07:00 BOE Announcement
07:45 ECB Announcement
Thursday, November 5
08:30 Productivity 5.8% cons.
08:30 Initial Claims
08:30 Continuing Claims
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
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
Before : AER, XTEX, FIG, EIX, OSMT, TNP, SU
08:00 Tim Geithner
03:00 Elizabeth Duke
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter