The December 25 week is essentially devoid of scheduled economic data that have market-moving potential. Most of the data will receive scan attention when released. Many businesses will be operating with minimal staffing or closed, and many consumers will be on vacation in the days between Christmas on Monday and New Years on Monday, January 1.
The most important numbers during the week are likely to be the remaining regional surveys of the manufacturing and service sectors which will complete the outlook for the December reports of the ISM manufacturing index on Wednesday, January 3 at 10:00 ET and ISM services index on Friday, January 5 at 10:00 ET.
The Dallas Fed’s general business conditions index for manufacturing for December is at 10:30 ET on Tuesday and the services sector at 10:30 ET on Wednesday. The Richmond Fed will release both its manufacturing composite index and service sector revenues index at 10:00 ET on Wednesday.
The data available for December from the New York, Philadelphia, and Kansas City Feds point to soft manufacturing conditions continuing in December, although their indexes for future conditions have improved notably for the six-month outlook. The indexes for the service sector suggest overall tempered expansion for December, but against a backdrop of choppy performance in recent months. Future indexes tell a similar story underlined by uncertainty across regions.
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