New York Stock Market, February Employment Report and Fed Beige Book Release
Summary
- It was reported that the February employment report is scheduled to be released, and the stock market may be affected by the results due to the recent slowdown in economic indicators.
- It was noted that attention should also be paid to the impact of President Trump's policy movements related to the new tariff imposition on the stock market.
- It was reported that the release of the Federal Reserve's Beige Book and statements from key officials are expected to provide important clues to the direction of financial markets.
This week (March 3-7), the biggest issue for the US New York stock market is the February employment report to be released on the 7th (local time). As recent economic indicators continue to point to a slowdown trend, if new employment in the non-agricultural sector falls short of expectations or the unemployment rate rises, it could shock the stock market. It is also noteworthy to see how much the layoffs of federal government employees led by the Department of Government Efficiency (DOGE) have affected overall employment.
On the 3rd, the Institute for Supply Management (ISM) will release the February Manufacturing Purchasing Managers' Index (PMI). S&P Global's final February Manufacturing PMI is also scheduled to be released around the same time. Both are indicators that can gauge the US manufacturing business conditions. On the 4th, a 25% tariff, as announced by US President Donald Trump, will be imposed on Canadian and Mexican goods. An additional 10% tariff will be added to Chinese goods.
It is also worth noting whether President Trump will address Congress. US House Speaker Mike Johnson invited President Trump in January, but he has not disclosed whether he accepted. On the 5th, starting with ADP's February US employment report, S&P Global's final February Services PMI, ISM's February Services PMI, and others will be released in succession. After assessing the service sector conditions, the Federal Reserve (Fed) will also release its Beige Book. The Beige Book is a report that Fed Chairman Jerome Powell pays close attention to.
On the 6th, the weekly new unemployment claims, January trade balance, and fourth quarter labor productivity for last year are scheduled to be announced. On the 7th, Chairman Powell is scheduled to give a lecture at the University of Chicago on the economic outlook. On the same day, statements from Fed Governor Michelle Bowman, New York Federal Reserve President John Williams, and Fed Governor Adriana Kugler will also be released.
New York=Park Shin-young, Special Correspondent nyusos@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
