Jobs report, consumer sentiment, and Fed speakers headline Friday’s agenda

As traders approach another pivotal day for financial markets on Friday, December 6, 2024, a series of crucial economic data releases and Federal Reserve speeches are expected to sway market dynamics. The highly anticipated November jobs report, including nonfarm payrolls and unemployment rate, will take center stage. Additionally, the University of Michigan’s Consumer Sentiment Index and speeches from several Fed officials will provide further insights into the economic landscape and potential monetary policy direction.

Major Economic Events to Watch

• 8:30 AM ET: Nonfarm Payrolls (Nov) – Forecast: 202K, Previous: 12K. Measures change in employed people excluding farming industry.

• 8:30 AM ET: Unemployment Rate (Nov) – Forecast: 4.2%, Previous: 4.1%. Percentage of total workforce unemployed and seeking employment.

• 8:30 AM ET: Average Hourly Earnings (MoM) (Nov) – Forecast: 0.3%, Previous: 0.4%. Measures change in price businesses pay for labor.

Other Important Economic Events to Watch

• 8:30 AM ET: Private Nonfarm Payrolls (Nov) – Forecast: 160K, Previous: -28K. Measures change in private sector employment.

• 8:30 AM ET: Average Hourly Earnings (YoY) (Nov) – Previous: 4.0%. Year-over-year change in hourly wages.

• 8:30 AM ET: Participation Rate (Nov) – Previous: 62.6%. Measures labor force as a percentage of working age population.

• 9:15 AM ET: FOMC Member Bowman Speaks. Federal Reserve Governor’s public engagement may offer monetary policy insights.

• 10:00 AM ET: Michigan Consumer Sentiment (Dec) Preliminary – Forecast: 73.1, Previous: 71.8. Measures consumer confidence levels.

• 10:00 AM ET: Michigan Consumer Expectations (Dec) Preliminary – Previous: 76.9. Measures future economic expectations.

• 10:30 AM ET: Fed Goolsbee Speaks. Chicago Fed President may provide economic outlook.

• 1:00 PM ET: Baker Hughes (NASDAQ:BKR) U.S. Rig Count – Forecast: 478, Previous: 477. Indicator of oil industry activity.

• 1:00 PM ET: FOMC Member Daly Speaks. San Francisco Fed President may offer policy insights.

• 3:00 PM ET: Consumer Credit (Oct) – Forecast: $10.10B, Previous: $6.00B. Measures change in consumer debt levels.

• 3:30 PM ET: CFTC Speculative Positions Reports. Various reports on futures market sentiment.

Other Economic Events to Watch

• 8:30 AM ET: Manufacturing Payrolls (Nov) – Previous: -46K. Employment change in manufacturing sector.

• 8:30 AM ET: Government Payrolls (Nov) – Previous: 40.0K. Employment change in government sector.

• 8:30 AM ET: Average Weekly Hours (Nov) – Forecast: 34.3, Previous: 34.3. Average hours worked per week.

• 8:30 AM ET: U6 Unemployment Rate (Nov) – Previous: 7.7%. Broader measure of unemployment.

• 10:00 AM ET: Michigan 1-Year Inflation Expectations (Dec) Preliminary – Previous: 2.6%. Short-term inflation expectations.

• 10:00 AM ET: Michigan 5-Year Inflation Expectations (Dec) Preliminary – Previous: 3.2%. Long-term inflation expectations.

• 10:00 AM ET: Michigan Current Conditions (Dec) Preliminary – Previous: 63.9. Current economic conditions assessment.

• 10:00 AM ET: Total (EPA:TTEF) Vehicle Sales (Nov) – Forecast: 16.00M, Previous: 16.20M. Annualized number of new vehicles sold.

• 3:30 PM ET: CFTC Commodity Speculative Positions Reports. Various reports on commodity futures market sentiment.

For further information and the latest updates, please refer to our Economic Calendar, here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.