Economic Events on January 5, 2011

The Mortgage Bankers’ Association purchase index was released at 7:00 AM EST, and there was a week to week decrease of 0.8% in the Purchase Index and a week to week increase of 3.9% in the Refinance Index.

The Challenger Job-Cut Report will be released at 7:30 AM EST, providing an estimate of the number of layoffs in December.

At 8:15 AM EST, the ADP Employment Report will be released.  Investors will be watching this number to get advance notice on the state of the job market in advance of the government’s report on Friday.

At 10:00 AM EST, the ISM non-manufacturing index for December will be released.  The consensus estimate is that it increased 1 point last month to a value of 56.0, and will continue to signal economic growth as it remains above the mid-point of 50.

At 10:30 AM EST, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

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