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 Friday, January 10, 2025. The U.S. jobs report, including nonfarm payrolls and the unemployment rate, will take center stage, alongside the University of Michigan’s consumer sentiment data and inflation expectations. Additionally, the USDA’s World Agricultural Supply and Demand Estimates (WASDE) report will provide insights into agricultural commodities markets.
Major Economic Events to Watch
• 8:30 AM ET – Average Hourly Earnings m/m: Forecast 0.3%, Previous 0.4%. Measures change in the price businesses pay for labor.
• 8:30 AM ET – Nonfarm Payrolls: Forecast 164K, Previous 227K. Key indicator of job creation and economic health.
• 8:30 AM ET – Unemployment Rate: Forecast 4.2%, Previous 4.2%. Percentage of the total workforce that is unemployed and actively seeking employment.
Other Important Economic Events to Watch
• 8:30 AM ET – Private Nonfarm Payrolls: Forecast 135K, Previous 194K. Measures change in private sector employment.
• 8:30 AM ET – Participation Rate: Previous 62.5%. Indicates the percentage of working-age population in the labor force.
• 10:00 AM ET – Michigan Consumer Sentiment (Preliminary): Forecast 74.0, Previous 74.0. Measures consumer confidence in economic conditions.
• 12:00 PM ET – WASDE Report: Provides USDA forecasts of U.S. and world supply-use balances for major agricultural commodities.
• 1:00 PM ET – Baker Hughes (NASDAQ:BKR) U.S. Rig Count: Previous 482. Indicates oil drilling industry activity.
• 3:30 PM ET – CFTC Speculative Positions: Reports on various futures markets, including S&P 500, Gold, and Crude Oil.
Other Economic Events to Watch
• 8:30 AM ET – Manufacturing Payrolls: Forecast 5K, Previous 22K. Measures change in the number of employed people in the manufacturing sector.
• 8:30 AM ET – Government Payrolls: Previous 33.0K. Indicates change in government employment.
• 8:30 AM ET – Average Weekly Hours: Forecast 34.3, Previous 34.3. Measures average number of hours worked by non-farm employees.
• 10:00 AM ET – Michigan 1-Year Inflation Expectations: Previous 2.8%. Consumer expectations for inflation over the next year.
• 10:00 AM ET – Michigan 5-Year Inflation Expectations: Previous 3.0%. Long-term consumer inflation expectations.
For further information and the latest updates, please refer to our Economic Calendar, here.
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