The Week Ahead
DURABLE GOODS ORDERS
Tuesday, Jan. 29, 8:30 a.m. EST -- New orders for durable goods probably increased 1.5% in December. That's based on the median forecast of economists surveyed by Standard & Poor's MMS, a division of The McGraw-Hill Companies.
Tuesday, Jan. 29, 9 a.m. EST -- The Federal Reserve Board's Open Market Committee will meet for two days to set monetary policy. Three quarters of the economists surveyed by S&P's MMS forecast a further quarter-point cut in the federal funds rate, to 1.5%.
Tuesday, Jan. 29, 10 a.m. EST -- The Conference Board's confidence index probably climbed to 96 in January, up from 93.7 in December.
GROSS DOMESTIC PRODUCT
Wednesday, Jan. 30, 8:30 a.m. EST -- The economy is estimated to have contracted at an annual rate of 1.2% in the fourth quarter after shrinking by 1.3% in the third quarter.
EMPLOYMENT COST INDEX
Thursday, Jan. 31, 8:30 a.m. EST -- Compensation in the fourth quarter likely rose by 0.9%.
Friday, Feb. 1, 8:30 a.m. EST -- Nonfarm payrolls probably declined by 60,000 jobs in January, pushing the unemployment rate to 5.9%.
PURCHASING MANAGERS' INDEX
Friday, Feb. 1, 10 a.m. EST -- The Institute for Supply Management's January industrial activity index likely climbed to 49.6%.