Today is the most important session of the week in terms of
news, with at least two key events on the agenda.
It starts early in the morning with the Euro Zone's
economic-sentiment survey, which has the potential to impact
sentiment. Weekly mortgage applications at 7 a.m. ET are the first
set of numbers on this side of the Atlantic, but attention will
focus on ADP's private-sector payrolls data at 8:15 a.m.
Economists expect that 125,000 jobs were added, down from 166,000
the previous month. It could draw a lot of attention because it's
the first look at hiring in October, more than a week before the
Labor Department's report on Nov. 8.
Consumer prices will be released 15 minutes later, but are unlikely
to affect trading because inflation is not a major worry for
investors now. Economists expect headline and core numbers to rise
0.1 percent, matching the previous month.
Crude-oil inventories will be released at 10:30 a.m.
The most important headline is likely to be the Federal Reserve's
monetary announcement at 2 p.m. Investors will pay close attention
to the central bank's bond-buying plans. In particular, they will
look for indications of how long it will last into 2014 given that
the recent government shutdown probably reduced economic growth.
Earnings will come this morning from ADP, Comcast, Hess and
Phillips 66. Facebook, Expedia, Computer Sciences, JDS Uniphase,
MetLife, Marriott International, Williams and Visa follow in the
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