Services PMI, ISM Non-Manufacturing PMI highlight Thursday’s economic data

As traders approach another pivotal day for financial markets, a series of crucial decisions and economic data releases that could sway market dynamics are expected on Thursday, October 3, 2024. The day’s lineup includes key reports on the services sector, jobless claims, and factory orders, all of which have the potential to influence investor sentiment and market direction.

Major Economic Events to Watch

• 8:30 AM ET: Initial Jobless Claims (Forecast: 221K, Previous: 218K) – Weekly measure of first-time unemployment insurance claims.

• 9:45 AM ET: Services PMI (Forecast: 55.4, Previous: 55.7) – Monthly survey of executives in private sector service companies.

• 10:00 AM ET: ISM Non-Manufacturing PMI (Forecast: 51.6, Previous: 51.5) – Composite index indicating overall economic condition for the non-manufacturing sector.

Other Important Economic Events to Watch

• 8:30 AM ET: Continuing Jobless Claims (Previous: 1,834K) – Measures ongoing unemployment insurance claims.

• 9:45 AM ET: S&P Global Composite PMI (Forecast: 54.4, Previous: 54.6) – Combined manufacturing and services sector activity index.

• 10:00 AM ET: Factory Orders (Forecast: 0.1%, Previous: 5.0%) – Measures change in total value of new purchase orders placed with manufacturers.

• 10:00 AM ET: ISM Non-Manufacturing Employment (Previous: 50.2) – Employment component of the ISM Non-Manufacturing PMI.

• 10:40 AM ET: FOMC Member Bostic Speaks – Public engagement by Federal Reserve Bank of Atlanta President.

• 4:30 PM ET: Fed’s Balance Sheet (Previous: 7,080B) – Weekly statement of Federal Reserve’s assets and liabilities.

• 4:30 PM ET: Reserve balances with Federal Reserve Banks (Previous: 3.142T) – Amount of money depository institutions maintain at regional Federal Reserve Banks.

Other Economic Events to Watch

• 7:30 AM ET: Challenger Job Cuts (Previous: 75.891K, 1.0%) – Information on announced corporate layoffs.

• 8:30 AM ET: Jobless Claims 4-Week Avg. (Previous: 224.75K) – Smoothed weekly data for initial jobless claims.

• 10:00 AM ET: Factory orders ex transportation (Previous: 0.4%) – Factory orders excluding transportation industry.

• 10:00 AM ET: Durables Excluding Transport (Previous: 0.5%) – Durable goods orders excluding transportation sector.

• 10:00 AM ET: Durables Excluding Defense (Previous: -0.2%) – Durable goods orders excluding defense sector.

• 10:00 AM ET: ISM Non-Manufacturing Prices (Previous: 57.3) – Price component of ISM Non-Manufacturing PMI.

• 10:00 AM ET: ISM Non-Manufacturing New Orders (Previous: 53.0) – New orders component of ISM Non-Manufacturing PMI.

• 10:00 AM ET: ISM Non-Manufacturing Business Activity (Previous: 53.3) – Business activity component of ISM Non-Manufacturing PMI.

• 10:30 AM ET: Natural Gas Storage (Previous: 47B) – Weekly change in natural gas held in underground storage.

• 11:30 AM ET: 4-Week Bill Auction (Previous: 4.700%) – Treasury bill auction results.

• 11:30 AM ET: 8-Week Bill Auction (Previous: 4.650%) – Treasury bill auction results.

For further information and the latest updates, please refer to our Economic Calendar, here.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.