On Wednesday, January 7th, the focus will be on the labor market as fresh job data is set to be released. The ADP report on private payrolls is anticipated to indicate a gain of 50,000 jobs in December, suggesting a rebound in hiring after the prolonged government shutdown that impacted the economy.
In addition to the ADP report, we will see the release of the Job Openings and Labor Turnover Survey. Economists predict a slight decline in job openings, with estimates indicating a reduction to 7.6 million, reflecting a softening labor market; however, this figure remains higher than pre-pandemic levels.
Earnings reports from major names in the food and beverage sector will also be a highlight on Wednesday. Albertsons, Cal-Maine, and Constellation Brands are among those presenting their financial results. Constellation Brands is expected to report a significant drop in earnings for the third quarter, attributed to the sale of substantial portions of its wine and spirits business.
Lastly, the Consumer Electronics Show (CES), taking place in Las Vegas, remains a major event, with NVIDIA CEO Jensen Wang discussing advancements in AI technologies, including new chips and robotics. Additionally, Yahoo Finance is scheduled to interview Qualcomm’s CFO at CES, promising insights into the tech giant’s recent developments.
With signs of stability returning in job growth and the ongoing showcase of innovation at CES, this week offers encouraging developments in both labor and technology sectors.