The first week of 2021 is a relatively quiet one on the earnings calendar, with just a handful of major companies reporting.
Lamb Weston Holdings,
Walgreens Boots Alliance
all release their latest results on Thursday.
Wholesale also reports its December 2020 sales and revenue on Wednesday. And on Monday, shareholders of
Fiat Chrysler Automobiles
vote on the automakers’ proposed merger of equals.
Economic data releases this week include December U.S. job numbers on Friday. The Bureau of Labor Statistics is expected to show an increase of 125,000 nonfarm payrolls, and an unemployment rate of 6.8%, which would be up from 6.7% in November.
Also out this week is the Institute for Supply Management’s Manufacturing Purchasing Managers’ Index for December on Tuesday, followed by its Services equivalent on Thursday. On Wednesday, the Federal Open Market Committee releases minutes from its latest meeting in mid-December.
On Tuesday, Georgia voters head to the polls to cast their ballots in a pair of special elections that will decide whether Republicans or Democrats control the Senate for the next two years.
Fiat Chrysler Automobiles and Peugeot hold extraordinary shareholders meetings to vote on their proposed merger of equals, valued at nearly $50 billion and first announced 15 months ago. The combined company would be called Stellantis and be the fourth-largest automobile manufacturer by volume.
The Census Bureau reports construction spending data for November. Economists forecast a 1% month-over-month increase, to a seasonally adjusted annual rate of $1.45 trillion. Construction spending, much like the housing market, has rebounded strongly from pandemic-induced lows and currently stands just below the all-time peak of $1.44 trillion set in February of 2020.
Georgia holds a special election for both of its Senate seats. Majority control of the Senate hangs in the balance, and Democrats can retake the chamber by winning the two races.
The Institute for Supply Management releases its Manufacturing Purchasing Managers’ Index for December. Consensus estimate is for a 56.5 reading, a point lower than the November figure. The Manufacturing PMI has had six straight months of readings above the expansionary level of 50.
The Federal Open Market Committee releases minutes from its mid-December monetary-policy meeting.
ADP releases its National Employment Report for December. Expectations are for a gain of 200,000 in private-sector employment, after 307,000 jobs were added in November. The vast majority of gains in November came from the services sector, led by the leisure and hospitality industry’s 95,000.
Conagra Brands, Constellation Brands, Lamb Weston Holdings, Micron Technology, and Walgreens Boots Alliance report quarterly results.
The ISM releases its Services Purchasing Managers’ Index for December. Economists forecast a 54.7 reading, below November’s 55.9 figure.
The Department of Labor reports continuing jobless claims, which are also known as insured unemployment, for the week ended Dec. 26. Unlike initial jobless claims, continuing claims have maintained their downward trend into December. For the first three weeks of last month, continuing claims averaged 5.3 million a week, down from a peak of 22 million in May.
The Bureau of Labor Statistics releases the jobs report for December. Consensus estimate is for an increase of 114,000 in nonfarm payrolls, after a rise of 245,000 in November. The unemployment rate is expected to edge up from 6.7% to 6.8%. The economy has added back 12.4 million jobs since May, or just more than half of the 22.2 million jobs lost in March and April.
Write to Nicholas Jasinski at firstname.lastname@example.org
Read Dow Jones Today.