There’s been concern about the US economic data, and the durability of the recovery of late.
As such, both of today’s economic datapoints will be watched closely.
Via Calculated Risk:
• At 8:15 AM, the ADP Employment Report for January. This report is for private payrolls only (no government). The consensus is for 170,000 payroll jobs added in January, down from 238,000 in December.
• At 10:00 AM, the ISM non-Manufacturing Index for January. The consensus is for a reading of 53.9, up from 53.0 in December. Note: Above 50 indicates expansion, below 50 contraction.
Both are important. The ADP, of course, is something of a preview for Friday’s Non-Farm Payrolls report (remember, the December report was weak) and the ISM non-Manufacturing Index will be looked to to see if there’s any balance against the manufacturing report on Monday.