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The Key Takeaways
- The financial markets and federal departments will be closed on Thursday to observe the funeral of Jimmy Carter, former U.S. president.
- Data on the private-sector and initial unemployment claims will also be released on Friday.
- The minutes for the December Federal Open Market Committee (FOMC) meeting are scheduled for release Wednesday and Fed representatives' speaking engagements are also planned.
- Also released are data on the service sector PMI (Purchasing Managers Index), consumer credit and consumer sentiment.
- The earnings of Delta Air Lines and Jefferies Financial will be reported this week. Also, Albertsons is expected to release its results, as well as Walgreens-Boots Alliance.
The trading hours for this week will be reduced due to the National Day of Mourning, Thursday, for former U.S. Presidency Jimmy Carter. All stock exchanges and federal offices will close for the day and many bond markets. Several events on that day's calendar were rescheduled, with other changes possible.
The U.S. employment report for December will catch the attention of investors on Friday, while the private sector’s data is released earlier this week. The minutes of the Federal Open Market Committee’s (FOMC) December meeting will be released on Wednesday. They provide insight into officials’ discussions on interest rate decisions. Federal Reserve Govs. Christopher Waller and Michelle Bowman, along with Philadelphia Fed President Patrick Harker and Kansas City Fed President Jeffrey Schmid, are among this week’s scheduled speakers.
Tuesday will see the release of ISM’s December services sector Purchasing Managers Index, and Wednesday is when Fed releases consumer credit statistics. This week, the U.S. Trade Deficit data as well as preliminary results of the December Consumer Sentiment Survey will be released.
This week, Delta Air Lines will release its earnings report for the quarter. Also, Jefferies Financial and Walgreens Boots Alliance are releasing their quarterly reports.
Monday, Jan. 6
- Orders for Factory Products (November).
- Federal Reserve Gov. Lisa Cook delivers remarks
- Commercial Metals reports its earnings
Tuesday, Jan. 7
- U.S. trade deficit (November)
- ISM service sector PMI December
- Openings for November
- Richmond Fed President Tom Barkin delivers remarks
- RPM International Cal-Maine Foods Earnings Report
Wednesday, Jan. 8
- Initial Jobless Claims (Week Ending Jan. 4).
- ADP employment report (December)
- Minutes of the December Federal Open Market Committee Meeting
- Consumer Credit (November).
- Federal Reserve Gov. Christopher Waller delivers remarks
- Jefferies Financial, Acuity Brands Albertsons Cos. Simply Good Foods (SMPL). Earnings Report
Thursday, Jan. 9
- Stock markets The federal government close for memorial for former U.S. President Jimmy Carter
- Markets for bonds may close as early as 2 pm. ET
- Wholesale inventories (November)
- Federal Reserve Gov. Michelle Bowman, Philadelphia Fed President Patrick Harker Richmond Fed President Tom Barkin, and Kansas City Fed President Jeffrey Schmid deliver remarks
- ServiceTitan (TTAN) and KB Home (KBH) report earnings
Friday, Jan. 10
- U.S. employment report (December)
- Consumer sentiment (preliminary) (January)
- Delta Air Lines, TD SYNNEX (SNX), Constellation Brands (STZ), Walgreens Boots Alliance, and WD-40 (WDFC) reports earnings
Jobs Report, FOMC Minutes Highlight Shortened Trading Week
Trading will be shortened this week for a national day of mourning on Thursday to honor former President Carter. Stock markets and the federal government will be closed, while some bond markets may close at 2 p.m. ET. More schedule changes could occur to accommodate the memorial.
On Friday, market watchers will be following December’s job numbers, which come after employers added 227,000 positions in the prior month, more than economists had projected. However, the unemployment rate also ticked higher in the month.
After cutting interest rates in three consecutive meetings, Federal Reserve officials will be closely examining the jobs data for signs of underlying weakness in the labor market. A strong jobs report, along with worsening inflation data, could give officials a tough decision on whether to cut again rates when the Fed next meets in late January.
Coming earlier in the week is ADP private-sector employment data. The Labor Department moved up the release date for weekly initial jobless claims to Wednesday.
Also on Wednesday, the Federal Reserve will release the minutes for its December meeting of the FOMC. The meeting notes will provide insight into officials’ deliberations, which included a dissenting vote on the central bank’s decision to again cut interest rates at its final meeting of the year. Investors will also hear from several Federal Reserve speakers, including Federal Reserve Govs. Christopher Waller and Michelle Bowman, Philadelphia Fed President Patrick Harker Kansas City Fed President Jeffrey Schmid.
Other noteworthy data releases this week include Friday’s preliminary report on consumer sentiment in December, trade deficit data and service sector Purchasing Manager Index (PMI) surveys on Tuesday and consumer credit updates on Wednesday.
Delta Air Lines, Walgreens Lead Corporate Earning Reports
Several corporate earnings reports are scheduled for release this week, including a handful that were moved from Thursday due to the markets closure for the national day of mourning.
Delta Air Lines will report its quarterly earnings on Friday following a disappointing quarter that was dragged down by a global IT outage resulting in costs of around $500 million. However, the airline said that it expects increased travel from premium consumers in 2025.
On Tuesday, Cal-Maine Foods will Earnings Report as rising egg prices sent its prior quarterly revenue higher by more than 70% as strains of bird flu have helped send egg prices higher in recent months.
Albertsons’ report of Wednesday comes after the company terminated its agreement to merge with Kroger, (KR), when a federal judge blocked the merger.
Jefferies Financial Group is set to publish its financial results for the third quarter on Wednesday. The company operates a business model similar to Warren Buffett’s Berkshire Hathaway conglomerate (BRK.A and BRK.B).
Walgreens Boots Alliance released its Friday report amid speculation about a possible sale to private equity of the struggling chain of pharmacies.
Some other notable reports include those from beer manufacturer Constellation Brands and industrial chemical manufacturers RPM International, WD-40 and homebuilder KB Home.
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