Wall Street Focuses on Jobs Market
Monday on Wall Street sees the release of personal income and spending figures for February by the Commerce Department. Also on Monday, the National Association of Realtors is set to issue its pending home sales report for January. The Conference Board will be releasing March consumer confidence figures on Tuesday with expectations being that consumer confidence will have fallen sharply from last month’s 70.4 to 65.0 mainly in response to turmoil in the oil market and the ongoing crisis in Japan. Tuesday also sees the release of the January S&P Case-Shiller home price index.
As one of three labor reports to be released in this week, the ADP private-sector jobs report is due on Wednesday, with investors hopeful that 210,000 private sector jobs will have been added. Also on Wednesday is the release of discount chain store group Family Dollar’s results. The weekly jobless claims are due to be released on Thursday morning, with expectation being that claims will have inched higher from last week’s 382,000 to 383,000 claims. Other reports due on Thursday are the Federal Reserve Bank of Chicago‘s purchasing managers’ index for March, as well as the February factory orders report from the Commerce Department.
Friday sees the much-anticipated Labor Department’s jobs report, as well as the Commerce Department’s construction spending report for February and the March manufacturing index from the Institute for Supply Management. Monthly sales reports are expected from Ford and General Motors on Friday afternoon.