The US labor market is expected to be in focus this week, with the January employment report scheduled for release on Friday. This report could provide insight into whether the labor market continues to strengthen.
The Federal Reserve is watching the labor market closely, and its decision to keep interest rates unchanged last month was influenced by a strong labor market. The latest jobs data showed that employers added 256,000 jobs in December, beating economists’ projections.
Ahead of Friday’s report, investors will receive fresh data on private sector employment, initial jobless claims, and trade deficit data. Other releases scheduled this week include Purchasing Managers’ Index (PMI) reports for the manufacturing and services sectors.
Big tech firms Google parent Alphabet and Amazon are also set to report earnings this week, which could be in focus due to recent developments in AI spending on Wall Street. Earnings from weight-loss drugmakers Novo Nordisk and Eli Lilly will also be reported.
Pharmaceutical firms Pfizer, Merck, Amgen, AstraZeneca, and Bristol Myers Squibb are among those scheduled to release results this week. Entertainment giant Disney is also set to report earnings.
The week’s schedule of releases includes:
– Monday: Palantir earnings
– Tuesday: Alphabet earnings, Google parent
– Wednesday: Novo Nordisk earnings, Disney earnings, and more
– Thursday: Amazon earnings
– Friday: January jobs report
Source: https://www.investopedia.com/what-to-expect-in-the-markets-this-week-8783286