As traders approach another pivotal day for financial markets, a series of crucial economic data releases that could sway market dynamics are expected on Friday, September 6, 2024. The U.S. labor market will be in focus with the release of the highly anticipated nonfarm payrolls report, unemployment rate, and average hourly earnings data. These key indicators are poised to provide valuable insights into the health of the American economy and potentially influence Federal Reserve policy decisions.
Major Economic Events to Watch
• 8:30 AM ET: Nonfarm Payrolls (Forecast: 164K, Previous: 114K) - Measures the change in the number of employed people during the previous month, excluding the farming industry.
• 8:30 AM ET: Unemployment Rate (Forecast: 4.2%, Previous: 4.3%) - Measures the percentage of the total workforce that is unemployed and actively seeking employment.
• 8:30 AM ET: Average Hourly Earnings (Forecast: 0.3%, Previous: 0.2%) - Measures the change in the price businesses pay for labor, excluding the agricultural sector.
Other Important Economic Events to Watch
• 8:30 AM ET: Private Nonfarm Payrolls (Forecast: 139K, Previous: 97K) - Measures the change in the number of employed people in private businesses, excluding government employees.
• 8:30 AM ET: Average Hourly Earnings (Year-over-Year) (Forecast: 3.7%, Previous: 3.6%) - Measures the year-over-year change in wages.
• 8:30 AM ET: Participation Rate (Previous: 62.7%) - Measures the percentage of the working-age population either employed or actively seeking employment.
• 8:45 AM ET: FOMC Member Williams Speaks - Federal Reserve official's speech may provide insights into monetary policy.
• 11:00 AM ET: Fed Waller Speaks - Another Federal Reserve official's speech that could impact market sentiment.
• 1:00 PM ET: Baker Hughes U.S. Rig Count (Previous: 483) - Indicates the level of oil drilling activity in the U.S.
• 1:00 PM ET: U.S. Baker Hughes Total Rig Count (Previous: 583) - Provides a broader view of drilling activity across all sectors.
• 3:30 PM ET: CFTC S&P 500 speculative positions (Previous: -81.9K) - Offers insight into market sentiment among speculative traders.
Other Economic Events to Watch
• 8:30 AM ET: Manufacturing Payrolls (Forecast: 0K, Previous: 1K) - Measures employment changes in the manufacturing sector.
• 8:30 AM ET: Government Payrolls (Previous: 17.0K) - Indicates changes in government employment.
• 8:30 AM ET: Average Weekly Hours (Forecast: 34.3, Previous: 34.2) - Measures the average number of hours worked by non-farm employees.
• 8:30 AM ET: U6 Unemployment Rate (Previous: 7.8%) - A broader measure of unemployment that includes discouraged workers.
• 10:00 AM ET: Total Vehicle Sales (Forecast: 15.40M, Previous: 15.80M) - Measures the annualized number of new vehicles sold domestically.
• 10:00 AM ET: Redbook (Previous: 5.0%) - Provides a measure of year-over-year same-store sales growth for large U.S. general merchandise retailers.
• 3:30 PM ET: Various CFTC speculative positions reports for commodities including Aluminium, Copper, Silver, Natural Gas, Wheat, Corn, and Soybeans - Offer insights into market sentiment for these commodities.
For further information and the latest updates, please refer to our Economic Calendar, here https://www.investing.com/economic-calendar/
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