Following a flurry of mixed U.S. data today, markets will be interested to see if the employment situation in the country has deteriorated further.
Markets will be looking at Thursday's initial jobless claims for the week ending Sept. 27 to address whether the downward trend has slowed. Initial claims are expected to come in at 475k, lower than the previous week's 493k result.
Meanwhile, continuing claims for the week ending Sept. 20 are expected to continue to grow. The consensus forecast is for continuing claims to climb to 3550k, an increase from the prior 3542k result.
U.S. factory orders for August are expected to make a splash as well with a 3.0% decrease following a previous 1.3% rise.
Meanwhile, investors will be keeping an eye out on the release of natural gas storage figures for the week ending Sept. 26. U.S. natural gas storage is expected to rise by 77 bcf from the previous week's 51 bcf increase.
It will be a quiet day in terms of speakers with only St. Louis Federal Reserve President James Bullard speaking in Bloomington, Indiana.
All times in EDT
8:30 US Initial Jobless Claims 27-September Exp: +475K Prior: +493K
8:30 US Continuing Claims 20-September Exp: +3550K Prior: +3542K
9:00 US RPX Composite 28-Day Index July Prior: 230.0
9:00 US RPX Composite 28-Day (Y/Y) July Prior: -17.15%
10:00 US Factory Orders August Exp: -3.0% Prior: +1.3%
10:35 US EIA Natural Gas Storage Change W/E 26-September Exp: 77 Bcf Prior: 51 Bcf
13:00 US US to Sell $45 Billion in 56-Day Cash Management Bills
20:00 US St. Louis Fed's Bullard To Speak in Bloomington, Indiana
By Steve Stecyk and edited by Nancy Girgis
©CEP News Ltd. 2008