Traders will keep an eye on how shares of Five Below and salesforce react to the latest earnings and news.
for last week. Expectations are for 235,000, up slightly from the previous week and signaling a labor market that remains tight.
"The recent spike seen in new claims for unemployment benefits to 240,000 is consistent with the uptick in job cut announcements centered in the tech sector', said Bankrate.com senior economic analyst Mark Hamrick. "The latest level of new claims is close to what was seen a year ago, although the total number of individuals receiving jobless assistance remains below the year ago level.
Continuing claims, which track the total number of workers collecting unemployment benefits, are expected to rise for the seventh consecutive week to 1.573 million.INCOME & SPENDING: Economists surveyed by Refinitiv anticipate spending to jump 0.8% month-over-month in October, above September’s 0.6% growth. Personal income, meantime, is expected to rise 0.4% for the fourth month in a row. The PCE Price Index rose 0.3% month-over-month in September and was up 6.2% annually . The Core PCE Price Index, which factors out volatile food and energy costs, is expected to rise 0.3% in October, trailing September’s 0.5% increase.
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