Services PMI and ISM Non-Manufacturing PMI Highlight Thursday’s Economic Data

As traders gear up for another critical day in financial markets, several significant decisions and economic data releases are set to unfold on Thursday, October 3, 2024. Key reports on the services sector, jobless claims, and factory orders are anticipated, all of which may impact investor sentiment and market trends.

Major Economic Events to Monitor

• 8:30 AM ET: Initial Jobless Claims (Forecast: 221K, Previous: 218K) – A weekly measure of new unemployment insurance claims.

• 9:45 AM ET: Services PMI (Forecast: 55.4, Previous: 55.7) – A monthly survey of executives in private sector service companies.

• 10:00 AM ET: ISM Non-Manufacturing PMI (Forecast: 51.6, Previous: 51.5) – A composite index reflecting the overall economic condition of the non-manufacturing sector.

Additional Important Economic Events

• 8:30 AM ET: Continuing Jobless Claims (Previous: 1,834K) – Measures ongoing unemployment insurance claims.

• 9:45 AM ET: S&P Global Composite PMI (Forecast: 54.4, Previous: 54.6) – An index combining activity from both manufacturing and services sectors.

• 10:00 AM ET: Factory Orders (Forecast: 0.1%, Previous: 5.0%) – Indicates changes in the total value of new purchase orders placed with manufacturers.

• 10:00 AM ET: ISM Non-Manufacturing Employment (Previous: 50.2) – The employment component of the ISM Non-Manufacturing PMI.

• 10:40 AM ET: FOMC Member Bostic Speaks – A public address by the President of the Federal Reserve Bank of Atlanta.

• 4:30 PM ET: Fed’s Balance Sheet (Previous: 7,080B) – A weekly summary of the Federal Reserve’s assets and liabilities.

• 4:30 PM ET: Reserve Balances with Federal Reserve Banks (Previous: 3.142T) – The total amount of funds maintained by depository institutions at regional Federal Reserve Banks.

Other Economic Events to Consider

• 7:30 AM ET: Challenger Job Cuts (Previous: 75.891K, 1.0%) – Data on announced corporate layoffs.

• 8:30 AM ET: Jobless Claims 4-Week Average (Previous: 224.75K) – A smoothed weekly measure of initial jobless claims.

• 10:00 AM ET: Factory Orders Excluding Transportation (Previous: 0.4%) – Orders excluding the transportation sector.

• 10:00 AM ET: Durable Goods Excluding Transportation (Previous: 0.5%) – Durable goods orders omitting the transportation industry.

• 10:00 AM ET: Durable Goods Excluding Defense (Previous: -0.2%) – Durable goods orders excluding the defense sector.

• 10:00 AM ET: ISM Non-Manufacturing Prices (Previous: 57.3) – The price component of the ISM Non-Manufacturing PMI.

• 10:00 AM ET: ISM Non-Manufacturing New Orders (Previous: 53.0) – The new orders component of the ISM Non-Manufacturing PMI.

• 10:00 AM ET: ISM Non-Manufacturing Business Activity (Previous: 53.3) – The business activity component of the ISM Non-Manufacturing PMI.

• 10:30 AM ET: Natural Gas Storage (Previous: 47B) – A weekly update on natural gas levels in underground storage.

• 11:30 AM ET: 4-Week Bill Auction (Previous: 4.700%) – Results from the Treasury bill auction.

• 11:30 AM ET: 8-Week Bill Auction (Previous: 4.650%) – Results from another Treasury bill auction.

Stay tuned for updates as this day unfolds in the financial markets.