This week's calendar brings key employment numbers and the
beginning of earnings season.
Today's reports include service sector data for Europe and the
United States after manufacturing reports last week. Composite
purchasing managers indexes will be released early in the session
for Germany, France, and the Eurozone. Then at 10 a.m. ET, the
Institute for Supply Management releases its index for the U.S.
Economists expect a reading of 54.6, up from 53.9 the previous
The Commerce Department announces factory orders for November at
the same time, but those are less important because they cover a
period of time further in the past. Consensus forecasts are looking
for a gain of 1.7 percent, compared with contraction of 0.9 percent
Tomorrow brings U.S. trade numbers in the morning, along with
results from Micron Technology and Apollo Group in the afternoon.
Employment data starts flowing Wednesday with ADP's monthly
private-sector payrolls report. Crude-oil inventories follow later
in the morning and minutes from the Federal Reserve's last meeting
come in the afternoon. Monsanto and Constellation brands report
before the opening bell, while Bed Bath & Beyond follows after
Thursday features initial jobless claims, natural-gas inventories,
Family Dollar's results in the morning and Alcoa in the afternoon.
It winds up Friday morning with the Labor Department's key monthly
non-farm payrolls report.
Given that the fourth quarter is now completed, other companies may
preannounce results this week.