The Business Week Ahead

The presidential election will be the highlight of the November 11 week but the November 4 week will offer its own set of major news, and most of it is expected to be solid. Personal income & consumer spending will open the week on Monday with both expected to show respectable gains though price readings are not expected to show much pressure. Vehicle sales and the ISM manufacturing report follow on Tuesday with both expected to show only limited strength. The FOMC announcement follows on Wednesday with no action expected, reflecting the economy's moderate trend, still limited signs of inflation, together with the pending election results. Thursday will see productivity & costs, the former expected to rise and the latter expected to slow in line with improved third-quarter growth. Employment will end the week with respectable nonfarm payroll growth of 178,000 the Econoday forecast together with a dip in the unemployment rate and noticeable strength for average hourly earnings.