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Today is going to be a big day for economic data.Here’s a quick synopsis of what’s to come.
- January personal income: Analysts expect a 0.4% rise vs. 0.5% in the month before.
- January personal spending: Analysts expect 0.4% vs. 0.0% in December.
- Initial jobless claims: Analysts predict 355K vs. 351K last month.
- Construction spending: Analysts expect a 1.0% sequential gain in January.
- ISM Manufacturing: Analysts expect 54.5.
- Total Vehicle sales: Analysts expect 14.0-14.4 million.
And regarding that last number, total vehicle sales, you should watch it closely, since it’s a decent proxy for the unemployment rate, which normally comes out on the first Friday of each month, but this month is coming out next week.