On the U.S. economic calendar this week we’ll get new figures on construction spending, manufacturing PMI, trade, factory orders, consumer sentiment, consumer credit, and the big jobs report at the end of the week.
The consensus forecast is that nonfarm payrolls grew by more than 180,000 in November while the unemployment rate held steady at 3.6%. Overseas, the Financial Times reports “World leaders will gather in Madrid for COP25 — the first big climate meeting since the US said it would exit the Paris accord. Oil isn’t going away anytime soon though, as will be seen this week when OPEC meets to set output and Saudi Aramco prices its initial public offering. NATO celebrates its 70th anniversary amid tensions among member nations with a gathering in the UK.” Investors will also be paying attention to the latest European figures on manufacturing PMI, producer price inflation, GDP, and retail sales, along with German manufacturers’ orders and industrial production. Have a great week!