Will Jobs Week Pave a Smooth Way Forward?

Group 1: Labor Market Insights - The final Jobs Week of 2024 is crucial for the Federal Reserve, as it will influence future monetary policy based on the U.S. labor market's health [1] - The JOLTS report for October is anticipated to show an increase in job openings to 7.6 million, up from 7.4 million [2] - The ADP report is expected to show a decrease in new private-sector jobs to +158K, while non-farm payrolls are projected to rise to 200K [2] Group 2: Intel's Leadership Change - Intel CEO Pat Gelsinger has resigned immediately, with shares rising by +5% in pre-market trading [3] - Gelsinger's tenure saw significant negative earnings surprises, with an average worse than -1000% in the September and June quarters, and shares down -49% year to date [4] - The new interim co-CEOs will need to focus on carving a space in AI technology moving forward [4] Group 3: Manufacturing and Construction Data - Key monthly production figures from S&P final Manufacturing PMI and ISM Manufacturing for November are expected to show continued contraction, with S&P at 48.8 and ISM rising slightly to 47.5 [5] - Construction Spending for October is projected to increase by +0.2%, marking three consecutive months of positive growth [6]