11/29/10 – theGrio & CNBC Market Update
VIDEO - Housing and manufacturing reports are expected, but all eyes will be on the jobs report....
This week investors will get a read on consumers with earnings reports from Barnes and Nobles retailer, Aeropostale. Housing and manufacturing reports are expected, but all eyes will be on the jobs report.
Where are the jobs? We’ll find out with the November jobs report. In October the unemployment rate was unchanged at 9.6 percent, as more than 159,000 private sector jobs were created. African American unemployment fell to 15.7 percent, while black teen unemployment dipped slightly to 48 percent, the highest of any group.
We’ll check the pulse of the housing market with the Case Shiller home price index report for September. The index tracks price changes in twenty metro areas such as Charlotte, Tampa, and Chicago. In August home prices declined 0.2 and may signal home prices have not bottomed.
We’ll get a read on the economy with November manufacturing and service sector reports from the institute for supply management. In October manufacturing activity expanded at its fastest pace since May, with a reading of 56.9. We’ll also get a read on the service sector. In October, the service sector grew and posted a 54.3 reading, a reading over 50 signal expansion.
