by Calculated Risk on 1/27/2024 08:11:00 AM

The key reports scheduled for this week are the January employment report and November Case-Shiller house prices.

Other key indicators include the January ISM manufacturing index and January vehicle sales.

The FOMC meets this week, and no change to policy is expected.

----- Monday, January 29th -----
10:30 AM: Dallas Fed Survey of Manufacturing Activity for January. This is the last of the regional Fed manufacturing surveys for January.

----- Tuesday, January 30th -----
9:00 AM: FHFA House Price Index for November. This was originally a GSE only repeat sales, however there is also an expanded index.

9:00 AM ET: S&P/Case-Shiller House Price Index for November.

This graph shows the Year over year change in the nominal seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the most recent report (the Composite 20 was started in January 2000).

The consensus is for a 5.8% year-over-year increase.

10:00 AM ET: Job Openings and Labor Turnover Survey for December from the BLS.

This graph shows job openings (black line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

Jobs openings decreased in November to 8.79 million from 8.85 million in October.

10:00 AM: The Q4 Housing Vacancies and Homeownership report from the Census Bureau.

----- Wednesday, January 31st -----
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

8:15 AM: The ADP Employment Report for January. This report is for private payrolls only (no government). The consensus is for 130,000 payroll jobs added in January, down from 164,000 added in December.

9:45 AM: Chicago Purchasing Managers Index for January. The consensus is for a reading of 48.0, up from 46.9 in December.

2:00 PM: FOMC Meeting Announcement. No change to policy is expected.

2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.

----- Thursday, February 1st -----
8:30 AM: The initial weekly unemployment claims report will be released.  The consensus is for 210 thousand initial claims, down from 214 thousand last week.

10:00 AM: Construction Spending for December. The consensus is for a 0.5% increase in construction spending.

10:00 AM: ISM Manufacturing Index for January. The consensus is for the ISM to be at 47.3, down from 47.4 in December.

----- Friday, February 2nd -----
8:30 AM: Employment Report for December.   The consensus is for 162,000 jobs added, and for the unemployment rate to increase to 3.8%.

There were 216,000 jobs added in December, and the unemployment rate was at 3.7%.

This graph shows the jobs added per month since January 2021.

10:00 AM: University of Michigan's Consumer sentiment index (Preliminary for January).

All day: Light vehicle sales for January. Sales were at 15.8 million in December (Seasonally Adjusted Annual Rate).

This graph shows light vehicle sales since the BEA started keeping data in 1967. The dashed line is the December sales rate.