A joint factory orders report for August and September is released at 10 a.m. Analysts expect that orders rose 1.7 percent in September. There was a sharp decline of more than 2 percent in July, attributed to weak demand for machinery, commercial aircraft and other heavy goods.
Two Federal Reserve officials are scheduled to give speeches today: Fed governor Jerome Powell in San Francisco and Boston Fed President Eric Rosengren in Boston.
The Institute of Supply Management’s non-manufacturing index for October is out at 10 a.m. The index — which describes the health of sectors such as agriculture, construction and retail — is forecast to stay close to the same measure as the previous month, 54. September’s measure showed that growth was slowing in the non-manufacturing sector, accompanied by rising uncertainty about the nation’s economic direction.
Richmond Fed President Jeffrey Lacker is scheduled to speak in Charlotte, and San Francisco Fed President John Williams is scheduled to speak in San Francisco.
Cleveland Fed President Sandra Pianalto is scheduled to speak in Columbus, Ohio, about housing and the economy.
The country’s third-quarter growth rate, out at 8:30 a.m., is expected to be 2 percent. The second-quarter growth rate was revised up to 2.5 percent, from an initial estimate of 1.7 percent. The effects of the federal government shutdown on the economy will not be clear until the release of the fourth-quarter GDP report.
Weekly jobless claims are expected to fall to 335,000, from 340,000 last week.
A consumer credit report for September is out at 3 p.m. Analysts expect that Americans borrowed $12.2 billion, down from more than $13 billion the previous month.
The jobs report for October that was delayed by the shutdown is out at 8:30 a.m. The unemployment rate is forecast to tick up to 7.3 percent, from 7.2 percent the previous month. Analysts predict that a meager 125,000 jobs were added in October, down from 148,000 jobs in September, probably because of the shutdown.
September’s Job Openings and Labor Turnover Survey is released at 10 a.m.
Federal Reserve Chairman Ben S. Bernanke, former Treasury secretary Larry Summers and former Bank of Israel governor Stanley Fischer are part of an International Monetary Fund panel discussion, “Policy Responses to Crises,” in Washington.