ECONOMIC CALENDAR:Monday: Motor Vehicle Sales, PMI Manufacturing Index, ISM Manufacturing Index, Construction Spending Wednesday: FOMC Minutes Thursday: Jobless Claims, Import and Export Prices, EIA Petroleum Status Report, Treasury Budget Friday: PPI-FD, Retail Sales, Business Inventories, Consumer Sentiment
- U.S. auto sales pause in September. Consumers tapped the brakes on motor vehicle purchases, causing the three major U.S. automakers to report declines in sales.
- Construction spending falls again in August. Builders cut back on construction project spending for a second straight month, suggesting demand for residential and non-residential projects may be waning.
- Factory activity picks up in September. U.S. manufacturing experienced a surge of unexpected growth last month after declining in August as new orders and production activity both grew.
- September jobs report shows labor market strength. The economy added 156,000 new jobs last month, missing Wall Street expectations of 175,000. The labor force participation rate ticked upward as more Americans joined the labor force, and the unemployment rate nudged upward to 5.0%.
Quote Of The Week
“Teach self-denial, and make its practice pleasurable, and you create for the world a destiny more sublime than ever issued from the brain of the wildest dreamer.” – Sir Walter Scott