by calculated risk November 2, 2024 08:11:00 AM
A rate cut is expected at the FOMC meeting this week.
—– Monday, November 4th —–
No major economic announcements are scheduled.
—– Tuesday, November 5th —–
All day: us election
8:30am: trade balance report September from the Census Bureau. The consensus is that September’s deficit will be $73.5 billion, up from August’s $70.4 billion.
This graph shows the U.S. trade deficit with and without oil, according to the latest report.
The blue line is the total deficit, the black line is the oil deficit, and the red line is the trade deficit excluding petroleum products.
10am: ISM Service Index For October. The consensus is a decline from 54.9 to 53.3.
—– Wednesday, November 6th —–
7:00 a.m. ET: Mortgage Bankers Association (MBA) Mortgage loan purchase application index.
—– Thursday, November 7th —–
8:30am: First weekly unemployment claim The report will be published. Consensus was for 224,000 initial claims, up from 216,000 last week.
2pm: FOMC meeting announcement. The Fed is expected to cut interest rates by 25 basis points at this meeting.
2:30pm: Jerome Powell Fed Chairman A press conference will be held after the FOMC announcement.
—– Friday, November 8th —–
10am: University of Michigan Consumer Confidence Index (Preliminary version for November).
