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Morning Matters:

The Week Ahead Brings Jobs Friday
by Geoff Garbacz

October 29, 2018

The Russell 2000, NASDAQ 100, S&P 100 and the Dow Jones Industrial Average were lower for the week. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remain positive despite moving into the monthly DMA Channel across the board.

The top areas facing the market in this trading week are:

1. Geopolitical Events. Wednesday the Bank of Japan (BOJ) announces its latest interest rate decision. Thursday the Bank of England (BOE) announces its latest interest rate decision.

2. Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as personal income, consumer confidence, ADP Employment, construction spending, ISM Manufacturing and the monthly employment data and factory orders.

3. Earnings Releases. Notable releases this upcoming week include MDLZ AVB FB PFE SNY ANTM AAPL SBUX BABA XOM.

Monday, October 29:

September Personal Income is due out at 8:30 a.m. EDT and is expected to rise to 0.4% from 0.3%.

Tuesday, October 30:

October Consumer Confidence is due out at 10:00 a.m. EDT and is expected to fall to 135.9 from 138.4

Wednesday, October 31:

The Bank of Japan (BOJ) announces its latest interest rate decision before the market opens, effectively some time Tuesday night for Wednesday trading in Japan.

ADP Employment Report is due out at 8:15 a.m. EDT and is expected to fall to 180,000 from 230,000.

Thursday, November 1:

The Bank of England (BOE) is out with their latest rate decision at 6:00 a.m. EDT.

September Construction Spending is due out at 10:00 a.m. EDT and is expected to rise to 0.20% from 0.10%.

October ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to fall to 59 from 59.80.

Friday, November 2:

October Nonfarm Payrolls are due out at 8:30 a.m. EDT and is expected to rise to 185,000 from 121,000.

September Factory Orders are due out at 10:00 a.m. EDT and are expected to fall to 0.4% from 2.3%.

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