The focus of the new trading week is likely to be on the official US labor market report expected on Friday, which could provide monetary policy impetus. Investors should also keep an eye on speeches by various Fed representatives.
A possible shutdown of the US administration is also likely to concern market participants.
Dow Jones Industrial Average Index
Source: TradingView
Meeting between leading Democrats and Republicans in sight - investors hope to avert a government "shutdown"
If no agreement is reached by Wednesday, a so-called "government shutdown" is imminent. US President Donald has announced a meeting between leading Democrats and Republicans at the White House today (Monday). It remains to be seen whether an agreement will be reached on the federal budget. In this case, numerous authorities could put their work on hold. Mike Johnson, Republican Speaker of the House of Representatives, said that the meeting was intended to bring the leaders together. The Democrats had also declared their willingness to hold talks.
As in the last trading week, the first half of the week could initially be exciting with monetary policy representatives of the US Federal Reserve.
This Monday afternoon, Christopher Waller (1:30 pm), Beth Hammack (Cleveland 2:00 pm), Alberto Musalem (St. Louis) and John Williams (New York/ 7:30 pm) are expected to speak. On Tuesday, the speeches by Philip Jefferson (12:00 p.m.) and Austan Goolsbee (Chicago/19:00 p.m.) will be in the spotlight.
Fed representatives in focus on Monday and Tuesday - investors likely to hope for monetary policy stimulus
Raphael Bostic from the Atlanta Fed will be speaking on Monday night (00:00).
On Tuesday, the so-called "JOLTs" (Job Openings and Labor Turnover Survey), which measure unfilled jobs in the US, could attract interest (16:00).
ADP employment data in focus midweek - first foretaste of "NFPs" conceivable
A first taste of the so-called "Non-Farm PayrollsThe ADP employment data (2:15 p.m.) are likely to provide a "first indication" of the economic upturn in the middle of the week.
The ISM Purchasing Managers' Index for the manufacturing sector is expected at 16:00.
On Thursday, attention should also be paid to the weekly initial claims for US unemployment benefits (14:30).
US labor market could recover slightly - tension likely to rise ahead of Friday
Friday is likely to be dominated by the publication of the US jobs report (14:30). In addition to average hourly earnings, new details on the unemployment rate are expected. According to current estimates, economists expect an unemployment rate of 4.3% for the month of September. The increase in jobs could have amounted to 39,000 units.
The latest jobs report showed only 22,000 new non-farm jobs for the month of August. Economists had previously expected an increase of 75,000 units.
The economic data calendar rounds off the trading week with the Purchasing Managers' Index for the services sector (16:00).
