Week 6 of the 2020 U.S. Economic Calendar highlights corporate earnings, manufacturing and employment data.
Friday, January 31 saw a 2% sell off in the major United States stock indices. Coronavirus uncertainty continues to push investors away from equities and into more secure havens.
Meanwhile, China opened it’s markets following the annual Lunar New Year break plus an additional 3-day extension to curtail coronavirus sell-off. Markets were mixed as Hong Kong finished the first day back in the positive, but the Shanghai and Shenzen indexes dipped below 7% for the day.
Iowa will lead U.S. election news as registered Democrats will pick their Presidential Primary candidate on Monday night. Consensus is Senator Bernie Sanders will win Iowa’s Caucus with former Vice President Joe Biden and Senator Elizabeth Warren not far behind.
Here are your key updates for the week ahead – February 3-7:
Monday, February 3
- ISM Manufacturing Index – consensus is 48.5, up from 47.8 in December (UPDATE 11:30 CST: ISM report at 50.9)
Tuesday, February 4
- CoreLogic House Price Index report
Wednesday, February 5
- MBA will release mortgage purchase applications index
- ADP Employment Report
- Trade Balance Report
- ISM Non-Manufacturing
Thursday, February 6
- Weekly unemployment claims
Friday, February 7
- Employment Report – consensus 161,000 new jobs in January with unchanged unemployment (3.5%)
- Consumer Credit update from the Federal Reserve