Tuesday's Market Minute: A Busy Week to Begin the Year

Let's take a market minute to get ahead of what you should be dialed in on this week. Investors are beginning the year with the focus on inflation, upcoming fourth quarter earnings, economic data, and central bank activity to come in the new year. 

Let’s begin with the economic data to keep an eye on this week. A slow start to the week, with the primary focus on the jobs report Friday. Non-farm payrolls are expected to show labor conditions remain strong here in the U.S.: estimates are for the figures to show 200K jobs were added last month, down from the 266K in we saw in November. This week, we also have the PMI Manufacturing at 9:45AM ET today, and Construction Spending at 10AM ET. Tomorrow we have JOLTS, and the FOMC minutes. Thursday, things start ramping up with the ADP Employment Report, Jobless Claims, the PMI Composite, and the Challenger Job-Cut Report. We’ll end the week with a handful of Fed speakers and again, the monthly jobs report Friday—which also has the wages component tied to it, don’t forget.

While we're a couple of weeks away from getting our first look at fourth-quarter earnings, Tesla TSLA is making headlines this morning after posting record deliveries for the fourth quarter, but they missed estimates. Tesla announced that in 2022 deliveries grew 40% year-over-year to 1.31M, and production grew 47% year-over-year to 1.37M. The company said they produced 439,701 vehicles and delivered 405,278 vehicles in 4Q. 

Lastly, keep an eye on gold spiking to begin the year up to 1856.60 overnight; the move up is in the face of the strong U.S. Dollar, up over 1%

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