Economic Data Releases – September 5, 2024

As traders approach another pivotal day for financial markets, September 5, 2024, brings a series of crucial economic data releases that could sway market dynamics. The spotlight will be on the ADP Nonfarm Employment Change, Initial Jobless Claims, Services PMI, ISM Non-Manufacturing PMI, and EIA Crude Oil Inventories, all of which have the potential to influence investor sentiment and market direction.

Major Economic Events to Watch

• 8:15 AM ET – ADP Nonfarm Employment Change
  Forecast: 143K, Previous: 122K
  A key indicator of private sector employment trends.

• 8:30 AM ET – Initial Jobless Claims
  Forecast: 231K, Previous: 231K
  An early indicator of employment trends in the US labor market.

• 9:45 AM ET – Services PMI
  Forecast: 55.2, Previous: 55.0
  Measures business activity in the services sector.

• 10:00 AM ET – ISM Non-Manufacturing PMI
  Forecast: 51.2, Previous: 51.4
  A comprehensive gauge of the services sector’s economic health.

• 11:00 AM ET – EIA Crude Oil Inventories
  Previous: -0.846M
  Measures weekly change in commercial crude oil stocks.

Other Important Economic Events to Watch

• 8:30 AM ET – Nonfarm Productivity
  Forecast: 2.3%, Previous: 0.2%
  Measures change in labor efficiency excluding farming.

• 8:30 AM ET – Unit Labor Costs
  Forecast: 0.9%, Previous: 4.0%
  Indicates changes in labor costs for businesses.

• 8:30 AM ET – Continuing Jobless Claims
  Forecast: 1,870K, Previous: 1,868K
  Shows ongoing unemployment insurance claims.

• 9:45 AM ET – S&P Global Composite PMI
  Forecast: 54.1, Previous: 54.3
  Provides a comprehensive view of economic activity.

• 10:00 AM ET – ISM Non-Manufacturing Employment
  Previous: 51.1
  Focuses on employment trends in the services sector.

• 11:00 AM ET – EIA Weekly Cushing Oil Inventories
  Previous: -0.668M
  Tracks oil storage levels at a key delivery point.

• 4:30 PM ET – Fed’s Balance Sheet
  Previous: 7,123B
  Discloses the Federal Reserve’s assets and liabilities.

• 4:30 PM ET – Reserve Balances with Federal Reserve Banks
  Previous: 3.245T
  Shows depository institutions’ account balances at Fed Banks.

Other Economic Events to Watch

• 7:30 AM ET – Challenger Job Cuts
  Previous: 25.885K
  Provides data on announced corporate layoffs.

• 8:30 AM ET – Jobless Claims 4-Week Avg.
  Forecast: 229.00K, Previous: 231.50K
  Smooths weekly jobless claims data.

• 10:00 AM ET – ISM Non-Manufacturing Prices
  Previous: 57.0
  Indicates price trends in the services sector.

• 10:00 AM ET – ISM Non-Manufacturing New Orders
  Previous: 52.4
  Measures new order trends in services.

• 10:00 AM ET – ISM Non-Manufacturing Business Activity
  Previous: 54.5
  Gauges overall business activity in services.

• 10:00 AM ET – Total Vehicle Sales
  Forecast: 15.40M, Previous: 15.80M
  Measures annualized new vehicle sales.

• 10:00 AM ET – Redbook
  Previous: 5.0%
  Tracks year-over-year same-store sales growth in retail.

• 10:30 AM ET – Natural Gas Storage
  Previous: 35B
  Measures weekly change in natural gas storage.

• 11:00 AM ET – EIA Weekly Gasoline Production
  Previous: -0.156M
  Tracks changes in gasoline production.

• 11:00 AM ET – Gasoline Inventories
  Previous: -2.203M
  Measures change in gasoline stocks.

• 11:00 AM ET – EIA Weekly Distillates Stocks
  Previous: 0.275M
  Reports on distillate fuel inventory levels.

• 11:00 AM ET – EIA Weekly Distillate Fuel Production
  Previous: 0.110M
  Tracks changes in distillate fuel production.

• 11:00 AM ET – EIA Refinery Crude Runs
  Previous: 0.175M
  Indicates crude oil processed by refineries.

• 11:00 AM ET – EIA Weekly Heatoil Stock
  Previous: -1.189M
  Measures change in heating oil inventories.

• 11:00 AM ET – EIA Weekly Refinery Utilization Rates
  Previous: 1.0%
  Shows refinery capacity utilization.

• 11:00 AM ET – EIA Weekly Crude Imports
  Previous: 0.282M
  Tracks changes in crude oil imports.

• 11:25 AM ET – 8-Week Bill Auction
  Previous: 5.100%
  Treasury bill auction results.

• 11:30 AM ET – 4-Week Bill Auction
  Previous: 5.170%
  Treasury bill auction results.

For further information and the latest updates, please refer to our Economic Calendar.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.