Weekly market report 📊
• Monday: ISM Mfg. PMI; Fed’s Waller, Williams;
• Tuesday: JOLTs, Vehicle Sales;
• Wednesday: ADP Payrolls, ISM Services PMI; Fed Chair Powell;
• Thursday: Jobless Claims;
• Friday: Jobs Report, Consumer Sentiment
U.S. stock index futures started December lower after recording robust gains last month, with focus on a slate of economic data later this week, including a jobs report, to gauge the Federal Reserve's interest rate path.
This week's centerpiece would be the November nonfarm payrolls report due on Friday, a key metric in also gauging the state of the labor market.
Traders currently see a more than 61% chance of the Fed opting for a 25-basis-point rate cut when it meets later this month, compared to a near 83% chance seen a month prior, as per CME's FedWatch Tool.
An October jobs opening reading is slated to be released on Tuesday, while November private payrolls data is due on Wednesday.
The week is also packed with data that could indicate how the economy is faring, including multiple surveys of economic activity for the last month.
November manufacturing activity surveys from S&P Global and the Institute for Supply Management (ISM) are due later in the day.