This week features several significant business events and economic data releases that are set to impact the market landscape.
On Monday, the Commerce Department will unveil its latest figures concerning U.S. construction spending.
Analysts anticipate a slight decline of 0.1% in construction spending for October compared to September’s numbers.
In September, construction spending had increased by 0.1%, reaching a seasonally adjusted annual rate of $2.15 billion.
Year-over-year, U.S. construction spending saw an increase of 4.6% in September.
The monthly percentage changes in construction spending, adjusted for seasonal variations, are as follows:
– May: 0.2%
– June: -1.1%
– July: 0.0%
– August: 0.1%
– September: 0.1%
– October (estimated): -0.1%
On Wednesday, Campbell’s Company will publish its latest quarterly financial report.
Wall Street experts are forecasting that the company will announce adjusted earnings of 87 cents per share for the first fiscal quarter, alongside approximately $2.8 billion in revenue.
These earnings are expected to fall short in comparison to last year’s profits, although revenue is projected to exceed the figures from the same quarter last year.
In a notable corporate development, Campbell’s received shareholder approval in November to change its name from Campbell Soup.
The company owns multiple well-known food brands, such as V8 juice, Pepperidge Farm cookies, and Prego pasta sauce.
Looking ahead to Friday, economists predict a resurgence in U.S. job growth for November after a significant slowdown was recorded in the previous month.
Experts forecast that the Labor Department will reveal that nonfarm employers added approximately 177,500 jobs in November, an encouraging sign following the meager addition of just 12,000 jobs in October.
This previous slowdown was attributed to the impact of strikes and hurricanes, which temporarily left many workers off payrolls.
The expected changes in nonfarm payrolls for recent months are as follows:
– June: 118,000
– July: 144,000
– August: 78,000
– September: 223,000
– October: 12,000
– November (estimated): 177,500