Today became a little more boring for financial markets amid the government shutdown. We expected to receive nonfarm payrolls data this morning at a time when every labor market data point is closely scrutinized. Instead, market participants will have to sit tight until the situation in Washington is resolved. Private market data is still available, and later this morning, the ISM services index for September will be released, which is expected to show a modest slowdown in activity over the month. Treasury yields are essentially unchanged on the day so far, and equity futures are slightly higher an hour before the open.
Jason Haley Chief Investment Officer
Date Event Survey Actual Prior 10/3/2025 Sept. Employment Report Delayed by US Shutdown 10/3/2025 S&P Global US Services PMI 53.9 — 53.9 10/3/2025 S&P Global US Composite PMI 53.6 — 53.6 10/3/2025 ISM Services Index 51.7 — 52 10/3/2025 ISM Services Prices Paid 68 — 69.2 10/3/2025 ISM Services New Orders 54 — 56 10/3/2025 ISM Services Employment 46.6 — 46.5 10/7/2025 Trade Balance -$61.4b — -$78.3b 10/7/2025 Exports MoM — — 0.30% 10/7/2025 Imports MoM — — 5.90% 10/7/2025 NY Fed 1-Yr Inflation Expectations — — 3.20% 10/7/2025 Consumer Credit $15.000b — $16.010b 10/8/2025 MBA Mortgage Applications — — -12.70% 10/8/2025 FOMC Meeting Minutes — — — 10/9/2025 Initial Jobless Claims — — — 10/9/2025 Initial Claims 4-Wk Moving Avg — — — 10/9/2025 Continuing Claims — — — 10/9/2025 Wholesale Trade Sales MoM — — 1.40% 10/9/2025 Wholesale Inventories MoM — — -0.20% 10/10/2025 U. of Mich. Sentiment 54.3 — 55.1 10/10/2025 U. of Mich. Current Conditions — — 60.4 10/10/2025 U. of Mich. Expectations — — 51.7 10/10/2025 U. of Mich. 1 Yr Inflation — — 4.70% 10/10/2025 U. of Mich. 5-10 Yr Inflation — — 3.70% 10/10/2025 Federal Budget Balance — — -$344.8b
Jason Haley Chief Investment Officer
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