There were some significant economic data releases last week including Q3 GDP data, the latest Fed Beige Book, and two more Fed manufacturing activity indexes. The data missed forecasts at basically 2 to 1. There were 15 misses and only 7 beats.
Coming up this week is a much busier slate. This morning personal consumption numbers will release followed by the last input of our Five Fed Manufacturing average with the Dallas Fed’s data. Tuesday will be a lighter day with just Case-Shiller Home Prices and Consumer Confidence. Wednesday is also on the quiet side. Things will pick up at the end of the week with 26 releases over the course of the first two days of November. The most important of these releases will be the Nonfarm Payrolls report on Friday which can swing the Fed into a more hawkish or dovish tone.