Fundamental Analysis Of the Week
Watch This Major Financial Market Events to Start Your Week
COVID-19 Vaccine Timing
To start the fresh week watch out the News this month of three promising coronavirus vaccine candidates has helped propel the Dow Jones Industrial Average over 30,000 and investors will be closely following plans for the initial rollout to the Market Movements.
U.S. health officials are to hold an emergency meeting on Tuesday to recommend that the Food and Drug Administration allow healthcare professionals and people in long-term care facilities to be the first two groups to get a coronavirus vaccine developed by Pfizer and a German partner BioNTech, which is awaiting approval.
The decision of the meeting indicates that the FDA may be close to authorizing the distribution of the vaccine, at least for the most at-risk groups.
The United States recorded its 12 millionth COVID-19 case on Nov. 21, and health experts have warned that travel for the Thanksgiving holiday will likely push case counts sharply higher.
Concerns that the steeply increasing numbers of new virus cases and more widespread containment measures have been undermining the recovery in the labor market mean that Friday’s November nonfarm payroll figures will be closely watched.
The report is expected to show a seventh straight month of job gains, but the consensus forecast that only 500,000 jobs were added. The unemployment rate is expected to tick down to 6.8% from 6.9%, still well above the 4.5% rate in March, before much of the U.S. economy went into lockdown.
The economy added 638,000 new jobs in October, which was the smallest gain since the jobs recovery started in May.
The calendar also features the ISM manufacturing PMI on Tuesday and the ISM non-manufacturing PMI along with the weekly report on initial jobless claims on Thursday.
Jerome Powell and Mnuchin Faceoff
Fed Chairman Jerome Powell and Treasury Secretary Steven Mnuchin are to testify before the Senate Banking Committee on Tuesday and again a day later before the House Financial Services Committee.