While Monday and Tuesday will not feature any major economic data releases, this week will close with a slew of significant data as well as many key earnings reports.

What matters?

  1. ADP Employment Change – At 8:15 A.M. EST on Wednesday, ADP Employment Change for the month of January is due out. Current expectations are for a release of 185,000, down from December’s blockbuster 271,000. ADP Employment serves as a preview for the January Employment Report, due out on Friday.
  2. Personal Income and Spending – At 8:30 A.M. EST on Thursday, Personal Income and Spending for the month of December are due out. Current expectations are for Personal Income to rise by +0.5% m/m, up from +0.2% in November. Personal Spending is expected to rise by +0.3% m/m, down from +0.4% in November.
  3. January Employment Report – At 8:30 A.M. EST on Friday, the January Employment Report will be released. Following a record 312,000 new jobs in December, expectations are for a release of 165,000 for January. The Unemployment Rate is expected to remain unchanged at 3.9% while average hourly earnings are expected to rise by +0.3% m/m and +3.2% y/y, compared to +0.4% and +3.2% in December.
  4. ISM Manufacturing Index – At 10:00 A.M. EST on Friday, the ISM Manufacturing Index for the month of January is due out. Current expectations are for a release of 54.2, compared to 54.1 in December. The ISM index has remained strong in recent months despite some concerns over U.S. manufacturing in the ongoing trade wars.
  5. University of Michigan Consumer Sentiment – Also at 10:00 A.M. EST on Friday, the final release for the University of Michigan Consumer Sentiment for the month of January is due out. It is not expected to change from the initial release of 90.7. Consumer Sentiment and Confidence has finally started to drop due to the stock market volatility and government shutdown.

All market data points and expectations are from Bloomberg as of 01/27/18, and should not be relied upon as current thereafter.

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