INDICATOR: October ADP Payroll Estimates/Help Wanted Online Demand
KEY DATA: ADP: 130,000; Small: 37,000; Medium: 13,000; Large: 81,000/Online Ads: down 257,900
IN A NUTSHELL: "Given the chaos in Washington, it looks like the private sector did its best to hire more people, though the pace was disappointing."
INDICATOR: September Consumer Price Index/Real Earnings
KEY DATA: CPI: +0.2%; Year-over-Year: 1.2%; Excluding Food and Energy: 0.1%; Year-over-Year: +1.7%/Real Earnings: 0.0%; Year-over-Year: 0.9%
IN A NUTSHELL: "Inflation is totally under control and that is the only reason household spending power hasn't totally collapsed."
INDICATOR: September Producer Prices/August Case-Shiller Home Prices
KEY DATA: PPI: -0.1%; Excluding Food and Energy: +0.1%/Case Shiller (20-City Index): +1.3%; Year-over-Year: +12.8%
IN A NUTSHELL: "The consumer is spending money at a decent pace and hopefully that will extend past the government shut down into the holiday shopping season."
INDICATOR: September Retail Sales/October Consumer Confidence
KEY DATA: Sales: -0.1%; Excluding Vehicles: +0.4%/Consumer Confidence: down 9 points; Expectations: down 13.2 points
IN A NUTSHELL: "The consumer is spending money at a decent pace but Washington really did crater confidence and that is a worry for the holiday shopping season."
INDICATOR: September Durable Goods Orders
KEY DATA: Orders: up 3.7%; Excluding Aircraft: up 0.3%; Capital Spending: -1.1%; Backlogs (Non-Aircraft): up 0.2%
IN A NUTSHELL: "Businesses took the logical step of becoming more cautious in face of the looming government chaos and durable goods demand rose modestly."
KEY DATA: Trade Deficit: $38.8 ($0.2 billion wider); Job Openings: down 180,000; Claims: 350,000 (down 12,000)
INDICATOR: September Employment Report
KEY DATA: Payrolls: 148,000; Private Sector: 126,000; Unemployment Rate: 7.2%
IN A NUTSHELL: "Sluggish payroll growth is indicating the economy was not picking up any steam even before the shutdown."
INDICATOR: September Existing Home Sales
KEY DATA: Sales: -1.9%; Prices (Year-over-Year): +9.2%
IN A NUTSHELL: "Home sales are flattening as rising rates seem to be taking a toll out of demand."