This first week of October is going to be HUGE from both an economic standpoint.
First, here's an abbreviated version of what's coming up. These bullets are courtesy of Dave Lutz at Stifel, Nicolaus:
- Chinese Markets closed for Golden Week
- Central Bank Decisions from Aussie, BOE, ECB and BOJ
- Big Ben speaks, and the Minutes from the September meeting
- Global PMI Data ? China, EU, UK, USA
- September Auto Sales and Retailer Same Store Sales
- US and EU Employment reports
- A Big Spanish Bond Auction
- Value Investing Conference ? Major HF speakers
- European Banking Authority - final report on capital plans
- The First debate between Gov. Romney and President Obama
Now, here's the full schedule:
MONDAY: It's global PMI day. So starting late Sunday night in the US, we'll be getting critical manufacturing reports from Asia, and then Europe, and then of course the US, concluding with the US at 10:00 AM ET. Also at 10:00 AM ET we get Construction Spending for October. There's also going to be a monetary policy speech by Bernanke, a speech by the head of the SF Fed. At the Value Investing Congress, Bill Ackman, Whitney Tilson, and other swill present picks.
TUESDAY: In the US we get September Auto & Truck Sales, which should provide a critical gauge of the state of the jobs market. The Aussie Central Bank will also act. And we get the New York ISM report. It's also the second day of the Value Investing Congress, so more potentially market-moving picks from hedgies.
WEDNESDAY: We get our first big preview of Friday's non-farm payrolls report, with the ADP jobs report, coming out at 9:15 AM ET. It's also non-manufacturing PMI day, so we'll get numbers from China, Europe, and the US. Wednesday night of course is also the night of the first debate between Romney and Obama. Everyone will be watching.
THURSDAY: The all-important Initial Claims number comes out at 8:30 AM ET. In Europe, there will be rate decisions from the BoE and the ECB (the press conference should be most interesting), and there will be bond auctions in Spain and France. Later in the day, there will be a speech from Fed Governor Bullard.
FRIDAY: The week ends with the Grande Finale of economic data: The September Jobs Report. This needs no hyping of course. Also at 3 PM ET that day, August Consumer Credit is revealed.
As we said: Get some rest. This is going to be big.
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