U.S. stocks closed lower on Wednesday, with the Nasdaq 100 dropping around 70 points amid a decline in Apple Inc AAPL and Amazon.com, Inc. AMZN shares.
Let’s have a look at the major economic events scheduled for today.
- The Challenger job-cut report for August is scheduled for release at 7:30 a.m. ET.
- Data on initial jobless claims for the latest week will be released at 8:30 a.m. ET. Jobless claims are expected to come in at 246,000 for the August 27 week, compared to 243,000 in the previous week.
- Data on nonfarm productivity and unit labor costs for the second quarter will be released at 8:30 a.m. The second-estimate for Q2 nonfarm productivity might show a 4.4% decline compared to a 4.6% annualized decline in the first estimate. Unit labor costs, which increased 10.8% in the first estimate, might surge at a 10.7% annualized rate in the second estimate.
- The manufacturing PMI for August is scheduled for release at 9:45 a.m. ET. The final manufacturing PMI is likely to hold at the 51.3 flash level for August.
- The ISM manufacturing index for August will be released at 10:00 a.m. ET. The ISM’s index is expected to slow further to 52 in August from 52.8 in July.
- Data on construction spending for July will be released at 10:00 a.m. ET. Construction spending, which fell 1.1% in June, is expected to show no change during July.
- The Energy Information Administration’s weekly report on natural gas stocks in underground storage is scheduled for release at 10:30 a.m. ET.
- The Treasury is set to auction 4-and 8-week bills at 11:30 a.m. ET.
- Federal Reserve Bank of Atlanta President Raphael Bostic is set to speak at 3:30 p.m. ET.
Check out our premarket coverage here
Image and article originally from www.benzinga.com. Read the original article here.