Treasuries are essentially unchanged despite an initial rally from a beat in Non-Manufacturing ISM (59.8 vs 55.5 consensus). European equity indices are mixed, with the DAX edging lower after a record close and the IBEX 35 rebounding upward from the Catalonian conflict. It was a quiet day for Asian trading as well with markets in China, Hong Kong and South Korea closed for national holidays. S&P futures are up 2 points as investors wait on the sidelines for the Non-Farm Payroll number on Friday, with consensus on the lower side as the market expects the hurricane distortions to have a somewhat meaningful impact (consensus is ~80k, with prior month’s number being 156k).

Eric Kruglak
Senior Associate, Investment Management Group

Date TimeEvent SurveyActualPriorRevised
10/05/2017 07:30Challenger Job Cuts YoYSep-27.00%5.10%
10/05/2017 08:30Initial Jobless Claims30-Sep265k260k272k
10/05/2017 08:30Continuing Claims23-Sep1950k1938k1934k1936k
10/05/2017 08:30Trade BalanceAug-$42.7b-$42.4b-$43.7b-$43.6b
10/05/2017 09:45Bloomberg Consumer Comfort1-Oct51.6
10/05/2017 10:00Factory OrdersAug1.00%-3.30%
10/05/2017 10:00Factory Orders Ex TransAug0.50%
10/05/2017 10:00Durable Goods OrdersAug F1.70%1.70%
10/05/2017 10:00Durables Ex TransportationAug F0.20%
10/05/2017 10:00Cap Goods Orders Nondef Ex AirAug F0.90%
10/05/2017 10:00Cap Goods Ship Nondef Ex AirAug F0.70%
10/06/2017 08:30Change in Nonfarm PayrollsSep80k156k
10/06/2017 08:30Two-Month Payroll Net RevisionSep
10/06/2017 08:30Change in Private PayrollsSep72k165k
10/06/2017 08:30Change in Manufact. PayrollsSep8k36k
10/06/2017 08:30Unemployment RateSep4.40%4.40%
10/06/2017 08:30Average Hourly Earnings MoMSep0.30%0.10%
10/06/2017 08:30Average Hourly Earnings YoYSep2.50%2.50%
10/06/2017 08:30Average Weekly Hours All EmployeesSep34.434.4
10/06/2017 08:30Labor Force Participation RateSep62.90%
10/06/2017 08:30Underemployment RateSep8.60%
10/06/2017 10:00Wholesale Trade Sales MoMAug0.00%-0.10%
10/06/2017 10:00Wholesale Inventories MoMAug F1.00%1.00%
10/06/2017 15:00Consumer CreditAug$15.540b$18.499b
10/10/2017 06:00NFIB Small Business OptimismSep105.3
10/11/2017 07:00MBA Mortgage Applications6-Oct-0.40%
10/11/2017 10:00JOLTS Job OpeningsAug6170
10/11/2017 14:00FOMC Meeting Minutes20-Sep
10/12/2017 08:30PPI Final Demand MoMSep0.40%0.20%
10/12/2017 08:30PPI Ex Food and Energy MoMSep0.10%0.10%
10/12/2017 08:30PPI Ex Food, Energy, Trade MoMSep0.20%0.20%
10/12/2017 08:30Initial Jobless Claims7-Oct260k
10/12/2017 08:30PPI Final Demand YoYSep2.60%2.40%
10/12/2017 08:30Continuing Claims30-Sep1938k
10/12/2017 08:30PPI Ex Food and Energy YoYSep2.00%2.00%
10/12/2017 08:30PPI Ex Food, Energy, Trade YoYSep1.90%
10/12/2017 09:45Bloomberg Consumer Comfort8-Oct
10/12/2017 10/20Monthly Budget StatementSep-$107.7b