ISM Manufacturing PMI today, Tuesday, at 10:00 am precedes Wednesday’s ADP Employment Change at 8:15 am, setting the stage for labor market expectations. Thursday features ISM Services PMI at 10:00 am and Fed’s Waller at 8:30 am. High volatility culminates Friday at 8:30 am with Nonfarm Payrolls and Hourly Earnings, critical for the Fed's September rate path. JOLTS and the Beige Book provide additional context as markets weigh recession risks against cooling inflation.
Traders should monitor Friday's NFP closely, as a significant miss could trigger aggressive rate cut bets. Watch for intraday reversals following Tuesday and Thursday's PMI releases if manufacturing or services data deviate from consensus.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.