Markets This Week: Jobs Report, Fed Updates, and Carter Memorial Impact

This week’s financial market activity will be shaped by key economic data, Federal Reserve updates, corporate earnings, and a national day of mourning for former U.S. President Jimmy Carter. Markets and federal agencies will close on Thursday to honor Carter, affecting trading schedules and data releases.

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Thursday Closure for National Mourning

Stock markets, federal offices, and some bond markets will be closed on Thursday, January 9, as the nation observes a day of mourning for President Jimmy Carter. Bond markets are expected to close early at 2 p.m. ET. Events initially scheduled for Thursday, including corporate earnings and economic releases, have been rescheduled.

Key Economic Data Releases

Investors will be closely monitoring a series of economic reports this week:

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• Tuesday, January 7: The Institute for Supply Management (ISM) will release its services sector PMI for December. Data on the U.S. trade deficit for November is also due.

• Wednesday, January 8: The Federal Reserve will release consumer credit data and the minutes from its December Federal Open Market Committee (FOMC) meeting, offering insight into deliberations on interest rate policies.

• Friday, January 10: The December jobs report will provide critical labor market updates. Economists anticipate a follow-up to November's report, which showed 227,000 jobs added despite a slight uptick in the unemployment rate.

Additionally, ADP’s private-sector employment data and initial jobless claims for the week ending January 4 will be released earlier in the week. Preliminary consumer sentiment data for January will also come out on Friday.

Fed Insights and Key Speeches

Minutes from the December FOMC meeting, due Wednesday, will provide details on the Federal Reserve’s discussions surrounding recent interest rate cuts. Investors will also hear from prominent Fed officials throughout the week, including:

• Federal Reserve Governor Christopher Waller

• Federal Reserve Governor Michelle Bowman

• Philadelphia Fed President Patrick Harker

• Kansas City Fed President Jeffrey Schmid

These remarks could provide further clues about the central bank’s stance on future rate adjustments.

Corporate Earnings to Watch

Several high-profile companies are set to report earnings this week:

• Tuesday: Cal-Maine Foods, RPM International

• Wednesday: Jefferies Financial Group, Albertsons, and Acuity Brands

• Friday: Delta Air Lines, Walgreens Boots Alliance, and WD-40

Delta Air Lines is expected to address recent operational challenges, including a costly IT outage that impacted its performance. Meanwhile, Walgreens Boots Alliance's report comes amid speculation of a potential sale to private equity.

What to Watch This Week

This week will provide critical updates on the state of the U.S. economy and financial markets, including labor market conditions, consumer sentiment, and corporate performance. The closure of President Carter’s memorial adds a unique dimension, compressing activity into fewer trading days. Investors and policymakers will closely analyze the data for signs of economic momentum as markets prepare for a pivotal year ahead.

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