The key report this week is the January employment report on Friday.



Other key indicators include the January ISM manufacturing and non-manufacturing indexes, and January auto sales.



The FOMC meets on Tuesday and Wednesday, and no change to policy is expected.





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----- Tuesday, Jan 31st-----

----- Wednesday, Feb 1st -----

----- Thursday, Feb 2nd -----

----- Friday, Feb 3rd -----

8:30 AM:for December. The consensus is for a 0.4% increase in personal income, and for a 0.5% increase in personal spending. And for the Core PCE price index to increase 0.2%.10:00 AM:for December. The consensus is for a 0.6% increase in the index.10:30 AM:for January. This is the last of the regional Fed surveys for January. 9:00 AM ET:for November. Although this is the November report, it is really a 3 month average of September, October and November prices.This graph shows the nominal seasonally adjusted National Index, Composite 10 and Composite 20 indexes through the October 2016 report (the Composite 20 was started in January 2000).The consensus is for a 5.0% year-over-year increase in the Comp 20 index for November. The Zillow forecast is for the National Index to increase 5.6% year-over-year in November.9:45 AM:for January. The consensus is for a reading of 55.2, up from 54.6 in December.7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the All day:for January. The consensus is for light vehicle sales to decrease to 17.7 million SAAR in January, from 18.4 million in December (Seasonally Adjusted Annual Rate).This graph shows light vehicle sales since the BEA started keeping data in 1967. The dashed line is the December sales rate.8:15 AM: Thefor January. This report is for private payrolls only (no government). The consensus is for 168,000 payroll jobs added in January, up from 153,000 added in December. 10:00 AM:for January. The consensus is for the ISM to be at 55.0, up from 54.7 in December.Here is a long term graph of the ISM manufacturing index.The ISM manufacturing index indicated expansion at 54.7% in December. The employment index was at 53.1%, and the new orders index was at 60.2%.10:00 AM:for December. The consensus is for a 0.2% increase in construction spending.2:00 PM:. No change to FOMC policy is expected at this meeting.8:30 AM ET: Thereport will be released. The consensus is for 253 thousand initial claims, down from 259 thousand the previous week.8:30 AM:for January. The consensus is for an increase of 175,000 non-farm payroll jobs added in January, up from the 156,000 non-farm payroll jobs added in December.The consensus is for the unemployment rate to be unchanged at 4.7%. This graph shows the year-over-year change in total non-farm employment since 1968.In December, the year-over-year change was 2.16 million jobs.A key will be the change in wages.10:00 AM:(Factory Orders) for December. The consensus is a 0.9% increase in orders.10:00 AM: thefor January. The consensus is for index to increase to 57.2 from 57.1 in December.