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Market Waits for Major Economic and Earnings Data

Market Waits for Major Economic and Earnings Data. Read More...

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="There is a big week on tap for market participants, from key economic data to the busiest week yet of Q4 earnings season. This is in addition to the continuing coronavirus crisis — currently at 360 fatalities with over 17K confirmed cases — and Election 2020 coming into focus with the Iowa caucuses today. That said, most of the information we seek we will need to wait for.” data-reactid=”18″>There is a big week on tap for market participants, from key economic data to the busiest week yet of Q4 earnings season. This is in addition to the continuing coronavirus crisis — currently at 360 fatalities with over 17K confirmed cases — and Election 2020 coming into focus with the Iowa caucuses today. That said, most of the information we seek we will need to wait for.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Later this morning, two important manufacturing metrics for January hit the tape: PMI and ISM. While PMI the previous month landed above 50 at 51.7, ISM sank to 47.2% in December. Expectations for January’s ISM headline are for slightly better results, 48.5%, but still in recessive territory.” data-reactid=”19″>Later this morning, two important manufacturing metrics for January hit the tape: PMI and ISM. While PMI the previous month landed above 50 at 51.7, ISM sank to 47.2% in December. Expectations for January’s ISM headline are for slightly better results, 48.5%, but still in recessive territory.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Construction Spendingfor December will also be out later this morning, with expectations in-line with the previous month’s +0.6% headline. We haven’t seen a negative print on Construction Spending since may and June of last year, though October came close when it posted +0.1%.” data-reactid=”20″>Construction Spendingfor December will also be out later this morning, with expectations in-line with the previous month’s +0.6% headline. We haven’t seen a negative print on Construction Spending since may and June of last year, though October came close when it posted +0.1%.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Also, both ADP ADP private sector payrolls and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS) will report this week, on Wednesday and Friday morning, respectively. For December, ADP reported 202K new private-sector jobs created, while BLS posted 145K, with a trailing 3-month average of 184K new jobs. These are terrific numbers this deep into our employment boom, with the Unemployment Rate expected to remain steady at 3.5% — historically low.” data-reactid=”21″>Also, both ADP ADP private sector payrolls and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS) will report this week, on Wednesday and Friday morning, respectively. For December, ADP reported 202K new private-sector jobs created, while BLS posted 145K, with a trailing 3-month average of 184K new jobs. These are terrific numbers this deep into our employment boom, with the Unemployment Rate expected to remain steady at 3.5% — historically low.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Finally, Alphabet GOOGL reports Q4 earnings after today’s closing bell. the Zacks Rank #2 (Buy)-rated company missed earnings estimates in its previous quarter — its third such miss in the past 12 quarters — but averages an 8% positive surprise over the past four quarters. Expectations are for $12.76 per share on $38.44 billion in quarterly revenues.” data-reactid=”22″>Finally, Alphabet GOOGL reports Q4 earnings after today’s closing bell. the Zacks Rank #2 (Buy)-rated company missed earnings estimates in its previous quarter — its third such miss in the past 12 quarters — but averages an 8% positive surprise over the past four quarters. Expectations are for $12.76 per share on $38.44 billion in quarterly revenues.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Analysts will be paying close attention to its cloud business growth, especially after last week’s Microsoft MSFT report posted 62% growth in its Azure cloud segment. Shares of the search giant are up 4.7% year to date, but are off their all-time highs struck just a couple weeks ago.” data-reactid=”23″>Analysts will be paying close attention to its cloud business growth, especially after last week’s Microsoft MSFT report posted 62% growth in its Azure cloud segment. Shares of the search giant are up 4.7% year to date, but are off their all-time highs struck just a couple weeks ago.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="
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Zacks Investment Research” data-reactid=”24″>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Alphabet Inc. (GOOGL) : Free Stock Analysis Report
 
Microsoft Corporation (MSFT) : Free Stock Analysis Report
 
Automatic Data Processing, Inc. (ADP) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research

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