Wall Street looks to consumers and labor market
After a weekend of Thanksgiving Day on Wall Street investors will be confronted with many important economic news, including details of the planned sale of housing, consumer spending and unemployment rate in the U.S. in November. At the end of last week’s alarming news about the financial difficulties of the Dubai stock exchange indexes decreased significantly throughout the world. Positive start to trade this week may provide good data on sales of certain chains of retail during the holidays, which were published as early as this weekend. They showed that households in the U.S. tend to shop and have benefited from a number of concessions to large chains of retail purchase of clothing, toys, electronics. Among the shops have attracted the most customers are from Best Buy, Wal-Mart, Toys R Us and Amazon. According to market research company ShopperTrak their sales increased by 0.5% yoy. Consumer spending are important because they generate two thirds of gross domestic product of the United States. In that year, they were greatly helped by government measures to stimulate the economy. Over the next few days will put important data for the manufacturing sector and the real estate market, cited by CNN. Most important, however, will be a government report on employment in non-agricultural sectors of the economy and the unemployment rate in November, which will be released on Friday. On Tuesday, U.S. President Barack Obama will announce the U.S. government’s strategy on the war in Afghanistan. Federal Reserve Chairman Ben Bernanke will make a statement before the Committee on Banking Supervision in the United States on his second term as chairman of the Central Bank on Thursday. On Monday, expect data for the index of business activity in the manufacturing sector of Chicago in November, and the results of some chains for sales during the holidays.
They will be followed by the index of business activity in the manufacturing sector of the United States in October on Tuesday, and the cost of projects in the construction sector for the same month. Data on projected sales of homes also come on Tuesday shortly after the trading session, as they are expected to decline by 0.5 percent in October after the September increased by 6.1%. On the first day of December and will put the data on sales of new motor vehicles in November. Wednesday will become clear change in employment in the private sector and the planned cuts by major employers in the U.S. in November. During the trading session will be released etc. “Beige Book” of the Federal Reserve, which will reveal details of the regional economic situation. Weekly data on applications for unemployment benefits in going out on Thursday, as they are expected to increase slightly after last week they fell to their lowest level since September 2008 sale of large chains of retail in November will also become clear before the start of trading sessions. Thursday will come and revised productivity data for the U.S. economy in the third quarter, data on labor costs, and data for November’s index of business activity in the services sector. On the same day the European Central Bank will announce its interest rate decision in December and is expected base rate in the euro area to remain 1%. Friday will show that unemployment in the United States, which reached 10.2 percent in October, continues to grow and how many jobs were closed in various sectors of the economy in November. Expectations are for a decrease in non-agricultural employment by 114 thousand positions and an unemployment rate of 10,2 percent in November. On Friday, come out and data on factory orders in October. On 9th March, when close to 12-year low, the broad U.S. index, S & P 500 rose more than 60 percent, but compared to November last year, the stock measure has increased by 21 percent.
Tags: alarming news, consumer spending, Dubai stock exchange, economic news, employment, financial difficulties, labor market, money, Thanksgiving, Thanksgiving Day, unemployment, Wall Street