Investors are eagerly awaiting the publication of new quarterly figures from NVIDIA on the other side of the Atlantic. In addition to the transcripts of the latest Fed meeting, investors are also awaiting the official US labor market data for September following the temporary settlement of the US budget dispute.
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Another look at some Fed representatives - Fed minutes could also provide monetary policy impetus
As in the previous week, investors should keep an eye on speeches by Fed representatives. In the past few days, monetary policymakers have provided important clues about the future shape of US monetary policy and significantly dampened expectations of interest rate cuts for the upcoming December meeting (10.12.2025).
Trump confidant Stephen Miran is expected to appear today at 4 p.m. and Friday at (00:15 a.m.). Gov. Lisa Cook will appear before the public at 5 p.m. Thursday and John Williams (1:30 p.m./New York), Gov. Michael Barr (2:30 p.m.) and Fed Vice Chairman Philipp Jefferson (2:45 p.m.) on Friday.
This Wednesday evening, the so-called „FOMC Minutes“ will first come into focus (20:00). In this context, investors are hoping for new indications of the state of monetary policy in the United States.
Non-Farm Payrolls: Economists expect 50,000 new jobs for September
Consequently, the official US labor market data (non-farm payrolls) for September is expected on Thursday (2:30 pm). According to economists, a total of 50,000 new non-farm jobs may have been created, significantly more than in August (22,000 units). Consequently, the unemployment rate may have been 4.3 percent, unchanged from the previous month.
The development of average hourly wages must also be taken into account.
Purchasing managers and US data round off the trading week
Friday should initially be dominated by the first purchasing managers„ estimates for the manufacturing industry, the services sector and “overall" (09:30). The counterparts for the eurozone are consequently expected at 10:00 am.
It should also be interesting to take a look at the USA, where the aforementioned purchasing managers (S&P Global) are due at 15:45. Consumer sentiment (University of Michigan) could also provide important impetus at 16:00.
NVIDIA quarterly figures in focus today after US market close
The quarterly figures from NVIDIA (ISIN: US67066G1040), which are expected this evening after the close of the US stock market, are likely to decide the weal and woe of the trading week. In addition to the actual results, the estimates for the fourth quarter could be particularly important for sentiment. The bar for the results is likely to be particularly high and the potential for disappointment in this context is pronounced.
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