Fed Speakers, Jobs Data Kick Off December

The nonfarm payrolls report will cap off the week on Friday

by Patrick Martin

Published on Nov 29, 2018 at 2:00 PM
Updated on Nov 29, 2018 at 2:00 PM

The first week of a December -- a historically bullish month for stocks -- will be a busy one. There will be a Fed speaker every day except Friday, at which point the critical nonfarm payrolls report will take center stage. Of those speakers, Fed Chair Jerome Powell will garner the most attention, with the central banker addressing Congress. In addition, traders will likely react to developments from the G-20 Summit in Argentina, where U.S. and Chinese leaders will discuss trade relations.

In addition, there's still some more life to be squeezed out of earnings season. Brand names such as Kroger (KR), AutoZone (AZO), and Ulta Beauty (ULTA) all take their turn in the earnings spotlight next week.

Below is a brief list of some key market events scheduled for the upcoming week. All earnings dates listed below are tentative and subject to change. Please check with each company's respective website for official reporting dates. 

On Monday, Dec. 3, the Institute for Supply Management (ISM) manufacturing index and Markit's services purchasing managers index (PMI) will both be released, as well as construction spending data. New York Fed President John Williams, Fed Governor Lael Brainard, and Dallas Fed President Robert Kaplan will speak throughout the day. Ascena Retail (ASNA) and Finisar (FNSR) will report earnings.

Motor vehicle sales will be the only data due out on Tuesday, Dec. 4, but Williams will take the mic again in the morning. There will also be earnings reports from AutoZone, Dollar General (DG), G-III Apparel (GIII) Hewlett Packard Enterprise (HPE), Marvell Technology (MRVL), RH (RH), and Toll Brothers (TOL). 

A busy Wednesday, Dec. 5, is headlined by Powell's speech before the Joint Economic Committee. There will also be data on productivity and costs, the MBA mortgage applications, the ADP employment report, the ISM non-manufacturing index, the Fed's Beige Book, and the weekly crude inventory report from the Energy Information Administration (EIA). American Eagle (AEO), Five Below (FIVE), H & R Block (HRB), lululemon athletica (LULU), Lands' End (LE), and United Natural Foods (UNFI) will report earnings.

Thursday, Dec. 6, features weekly jobless claims, international trade data, factory orders, and the Fed's balance sheet. Atlanta Fed President Raphael Bostic will speak, as will Williams for the third and final time this week. American Outdoor Brands (AOBC), Broadcom (AVGO), Duluth Holdings (DLTH), Genesco (GCO), Kroger, and Ulta step into the earnings confessional.  

The week will cap off on Friday, Dec. 7, with the November jobs report, consumer sentiment and wholesale trade data, the Fed's consumer credit report, and the Baker-Hughes rig count. 

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