Here are three events that could affect the market on Friday:
1. January report on wages in the nonfarm sector
Has the economy improved since December? There is a positive trend, according to an estimate published in Friday’s government nonfarm employment report.
The Bureau of Labor Statistics will release the data at 08:30 am ET (13:30 GMT). Analysts expect 50,000 jobs were added last month after cutting 140,000 in December.
2. Data on consumer loans
December consumer lending figures are due at 3:00 pm ET and are expected to reach $ 12 billion, up from $ 15.7 billion in November. This drop may be in line with the jobs report, which shows declines in employment during the holiday season.
The November report came as a pleasant surprise as consumers continued to use credit sources such as car loans and student loans, but did not use credit cards.
3. Biden’s stimulus plan for $ 1.9 trillion
Democrats continue to push their $ 1.9 trillion stimulus package. Investors are supportive of the idea as the stock market rallied this week as lawmakers on Capitol Hill maneuver.
The material has been provided by InstaForex Company – www.instaforex.com
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