The Week Ahead: October Unemployment, Housing and Earnings

We turn the calendar page again this week, which means it is time for the latest employment data. First up this week is the ADP payroll report on Wednesday, then the Challenger job-cut report and weekly unemployment claims data on Thursday, all leading up to the Bureau of Labor Statistics employment reports on Friday. This will be the final employment data before the presidential election, and follows last month's surprising and somewhat controversial drop in the unemployment rate to 7.8%, the lowest it has been during the Obama administration.

Monday morning, the Department of Commerce releases personal consumption data for September. Also, the Dallas Fed shares results from its monthly survey of manufacturers in Texas. The S&P/Case-Shiller home price index is due out Tuesday morning and will show whether the housing recovery continues. Also, the Conference Board releases its latest Consumer Confidence Index. Marketwatch's forecast calls for the confidence to rise to 74.0 from the previous reading of 70.3. Wednesday brings not only the aforementioned ADP national employment report, but also the Institute of Supply Management's survey of business conditions in the Chicago area. Challenger, Gray & Christmas shares its monthly report on corporate layoffs Thursday morning, followed by the Department of Labor's weekly report of initial jobless claims. Marketwatch predicts first-time claims will fall from the previous 369,000 to 365,000. Thursday morning also brings the ISM manufacturing composite index, which Marketwatch forecasts will remain unchanged at 51.5, which signals mild expansion. And the Census Bureau also releases data on new construction activity. The big Bureau of Labor Statistics employment situation report comes first thing Friday morning. Marketwatch sees the October unemployment rate ticking up to 7.9, with nonfarm payroll employment rising by 120,000, compared with the previous rise of 114,000. Also Friday morning, the Census Bureau releases data on new factory orders of durable and nondurable goods.

Ford

, Pfizer

and Archer Daniels Midland

are on deck to share quarterly results Tuesday. Analysts foresee lower per-share earnings from each of them, compared with a year ago. MasterCard

and Visa

are expected to report year-over-year earnings growth on Wednesday. Allstate

and Ralph Lauren

are scheduled to report Wednesday as well. Exxon Mobil

is expected to report lower per-share earnings Thursday, and analysts believe AIG

will have swung to a profit from the year-ago loss. Kellogg

and Starbucks

also are scheduled to share their most recent results Thursday. And the Washington Post

is forecast to post an earnings decline on Friday.