By Matt Phillips
Economics:
8:15 a.m. — ADP National Employment Report is expected to show an increase of 22,000 private sector jobs in October. The accuracy of this preview of the big Friday jobs report is often debated, but it can move the markets if it produces a surprising result. Last time the ADP report said private-sector jobs fell by 39,000 in September from August, according to a report released Wednesday by ADP and consultancy Macroeconomic Advisers. A couple days later the Department of Labor reported that private employers added 64,000 workers.
10 a.m. — ISM services sector report is expected to show an expansion of service-sector activity. The headline number consensus is at 53.5. Last time, the survey of U.S. purchasing managers at non-manufacturing firms rose to 53.2 in September from 51.5 in August, the Institute for Supply Management reported Tuesday. Any reading over 50 indicates expansion.
10 a.m. — Manufacturing orders and inventories for September are expected to increase 1.6%.
2:15 p.m. — The big FOMC decision on QE2 is expected to be announced in the Fed’s new interest-rate statement.
Throughout the day — Domestic auto sales data arrives.
Earnings: A fair amount. Some of the high-profile reports will be …
- Aetna
- CVS Caremark
- PulteGroup
- QUALCOMM
- Molson Coors Brewing
- Time Warner
- Whole Foods Market
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