Wall Street awaits key reports on job data and manufacturing, with potential market impact.

From Nasdaq: 2024-12-02 10:33:00

This week is the final Jobs Week of 2024, with a focus on the health of the U.S. labor market. Discrepancies between private-sector data and government reports are expected to be reconciled. Key reports include JOLTS, ADP, and non-farm payrolls, with the Fed planning a rate cut on December 18th.

Intel CEO Pat Gelsinger resigns immediately, replaced by interim co-CEOs. Intel faced challenges under Gelsinger’s leadership, posting negative earnings and losing ground to NVIDIA. Shares are down -49% year to date. The future of Intel in AI technology remains uncertain with the new leadership.

After the opening bell, key reports on manufacturing PMI, ISM Manufacturing, and construction spending for October are expected. Both PMI and ISM are sub-50, signaling contraction. Construction spending is forecasted to increase for the third consecutive month. Market expectations may shift with the new presidential administration.

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