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On the U.S. economic front, the Labor Department is set to show nonfarm payrolls likely increased by 50,000 jobs in September after posting a rise of 22,000 in the prior month. The unemployment rate is expected to remain unchanged at 4.3% in September. For the same month, private payrolls probably climbed by 62,000 jobs, after adding 38,000 jobs previously. Meanwhile, average earnings likely rose 0.3% in September, unchanged from the prior month. Annually, average earnings probably edged up 3.7% in September. The average workweek is forecast to remain at 34.2 hours. Additionally, initial claims for unemployment benefits probably rose to 230,000 for the week ended November 15, compared to 232,000 in the previous week. The Philadelphia Federal Reserve Bank's business index for November is expected to show a reading of 2.0, compared to -12.8 in October. The National Association of Realtors' existing home sales for October are forecast to rise to 4.08 million units from 4.06 million in September.
Walmart is expected to post a rise in third-quarter same-store sales as the company benefits from its low prices, deliveries, as well as resilient demand for budget-friendly groceries and essentials from consumers. Investors will watch out for comments on the health of the consumer by the retail bellwether as well as its expectations for the holiday quarter.
Federal Reserve Bank of Cleveland President Beth Hammack is likely to give opening remarks before the "2025 Financial Stability Conference: Financial Stability in a Time of Rapid Economic and Technological Change" at the Federal Reserve Bank of Cleveland. (0845/1345) Meanwhile, Federal Reserve Board Governor Michael Barr is expected to participate in an "Artificial Intelligence" discussion before the FinRegLab AI Symposium 2025. (0930/1430) Separately, Federal Reserve Board Governor Lisa Cook is scheduled to speak on financial stability before the "Assessing Resilience and Vulnerabilities in the Financial System" event hosted by Georgetown University. (1100/1600) Additionally, Federal Reserve Bank of Chicago President Austan Goolsbee is likely to participate in a moderated discussion before the CFA Society of Indianapolis 2025 Annual Lunch & New Charterholder Ceremony. (1240/1740) Also, Federal Reserve Board Governor Stephen Miran is due to participate in a discussion before the American Investment Council General Counsel Day. (1815/2315)
Old Navy parent Gap is expected to post a rise in third-quarter revenue, on resilient demand even as concerns about rising inflation pressure and consumer spending on discretionary items persist.
Bath & Body Works is likely to post downbeat third-quarter results, according to analysts, dragged by a weak American shopper in the busy holiday season. The company's annual outlook will be a top priority for the investors as tariff-driven uncertainties push cash-strapped shoppers towards cheaper candles and home fragrances.
Discount apparel retailer Ross Stores is expected to report a rise in third-quarter revenue due to strong demand, as consumer spending is under pressure, prompting them to seek cheaper options. Investors will look out for comments from these companies on sales in the upcoming holiday season and tariff impact.
The Canadian Federation of Independent Business is set to release its business barometer for November, which previously stood at 46.32. Statistics Canada is expected to report that producer prices likely rose 0.3% in October, compared with a 0.8% gain in the prior month.
(Compiled by Kumar Satyam; Edited by Vijay Kishore)