This Week in the Market
This coming week is rather slow as far as economic reports go, especially compared with the past several weeks. But there are a few reports worth noting listed below:
- Feb 5: PMI Services Index & ISM Non-Mfg. Index
- Feb 6: International Trade
- Feb 6: JOLTS
- Feb 8: Jobless Claims
Today’s Calendar Updates on the service sector, which have cooled down recently, are on top of Monday’s calendar.
PMI Services Index – PMI services was lower at the headline level, held down by soft output and coming in under expectations at 53.3 for the January flash. US Services Purchasing Managers’ Index (PMI) is based on monthly questionnaire surveys collected from over 400 U.S. companies which provide a leading indication of what is happening in the private sector services economy.
ISM Non-Mfg. Index – The Institute for Supply Management surveys more than 375 firms from numerous sectors across the United States for its non-manufacturing index. This index covers services, construction, mining, agriculture, forestry, and fishing and hunting.
Quarterly earnings are starting to slow with most of the major companies having reported. Today look for Bristol-Myers Squibb, Church & Dwight, Hess, National Oilwell, Varco, Sysco and Tata Motors announcements.
Tesla (TSLA) is expected to announce earnings later this week.