by Calculated Risk on 11/27/2010 05:50:00 PM
Saturday, November 27, 2010
The key report for the week will be the November employment report to be released on Friday, Dec 3rd. Other key reports include the Case-Shiller home price index on Tuesday, the ISM manufacturing index on Wednesday, and the ISM non-manufacturing (service) index on Friday.
10:30 AM: Dallas Fed Manufacturing Survey for November. The Texas survey showed a slight expansion last month (at 6.9), and is expected to show expansion again in November. This is the last of the regional surveys for November, and with the exception of the NY Fed (Empire State) survey, all showed improvement in November.
9:00 AM: S&P/Case-Shiller Home Price Index for September. Although this is the September report, it is really a 3 month average of July, August and September. The consensus is for prices to decline about 0.4% in September; the third straight month of price declines.
9:45 AM: Chicago Purchasing Managers Index for November. The consensus is for a decline to 60.0 from 60.6 in October.
10:00 AM: Conference Board's consumer confidence index for November. The consensus is for an increase to 52.5 from 50.2 last month.
12:30 PM: Minneapolis Fed President Narayana Kocherlakota speaks on "Monetary Policy Actions and Fiscal Policy Substitutes"
7:00 AM: The Mortgage Bankers Association (MBA) will release the mortgage purchase applications index. This index declined sharply following the expiration of the tax credit, and the index has only recovered slightly over the last few months - suggesting reported home sales through the end of the year will be very weak.
8:15 AM: The ADP Employment Report for November. This report is for private payrolls only (no government). The consensus is for +68,000 payroll jobs in November, up from the +43,000 jobs reported in October.
8:30 AM: Productivity and Costs for Q3 (Final). The consensus is for a -0.2% decrease in unit labor costs.
10:00 AM: ISM Manufacturing Index for November. The consensus is for a slight decrease to 56.5 from 56.9 in October.
10:00 AM: Construction Spending for October. The consensus is for a 0.4% decline in construction spending.
2:00 PM: The Fed’s Beige Book for November. This is anecdotal information on current economic conditions.
All day: Light vehicle sales for November. Light vehicle sales are expected to decrease slightly to 12.0 million (Seasonally Adjusted Annual Rate), from 12.3 million in October. Edmunds is forecasting:
Edmunds.com analysts predict that November's Seasonally Adjusted Annualized Rate (SAAR) will be 12.2 million, essentially flat from October 2010.
8:30 AM: The initial weekly unemployment claims report will be released. The number of initial claims has been trending down over the last several weeks. The consensus is for an increase to 424,000 from 407,000 last week (still high, but much lower than earlier this year).
10:00 AM: Pending Home Sales Index for October. The consensus is for a 1% decrease in contracts signed. It usually takes 45 to 60 days to close, so this will provide an early indication of closings in December.
12:20 PM: Philadelphia Fed President Charles Plosser speaks on the economic outlook
Expected: October Personal Bankruptcy Filings
8:30 AM: Employment Report for November. The consensus is for an increase of 145,000 non-farm payroll jobs in November, about the same as the 151,000 jobs added in October. The consensus is for the unemployment rate to stay steady at 9.6%.
9:10 AM: Fed Vice Chair Janet Yellen speaks on "Fiscal Responsibility and Global Rebalancing"
10:00 AM: Manufacturers' Shipments, Inventories and Orders for October. The consensus is for a 0.7% decrease in orders.
10:00 AM: ISM non-Manufacturing Index for November. The consensus is for a slight increase to 54.7 from 54.3 in October.
After 4:00 PM: The FDIC will probably have another busy Friday afternoon ...