[Screen shows “Weekly Market Outlook with Jeffrey Kleintop”]
[Jeff holds up a sign of the word/company name “Nvidia "]
The first full week of 2025 opens with a major tech conference, US payrolls and Federal Reserve policy meeting minutes, and a state funeral for former US President Jimmy Carter. I’m Jeff Kleintop with what you need to know for the week ahead.
Tuesday kicks off the major technology show CES 2025 in Las Vegas which runs through Friday. The CEO of the S&P 500’s top performing stock, Nvidia, is set to deliver a keynote speech.
[Jeff holds up a sign with the drawing of Fed Chair Jay Powell at a microphone ]
On Wednesday we get the Fed minutes to the December meeting. Fed Chair Powell said the decision to cut rates at the December FOMC meeting was a “closer call,” and minutes of the meeting will give additional details on the deliberations. They also should offer detail on how policymakers have updated their outlooks and the balance of risks based on recent data and policy proposals from the incoming administration. Participants likely incorporated an extension of personal-income provisions in the Tax Cut and Jobs Act (2017) that were set to expire at end-2025 — but not a sharp increase in tariffs or drastic spending cuts.
[Jeff holds up a sign with a drawing of a calendar with days of the week, with Thursday circled]
On Thursday, the stock market will be closed for the US state funeral and national day of mourning for former President Jimmy Carter. President Joe Biden is expected to deliver a eulogy.
[Jeff holds up a sign of a clipboard with a blank paper with the words “Unemployment claim” on the top]
On Friday, both Canada and the US deliver December jobs reports. December US jobs data will loom large in the thinking of Fed officials. Estimates put nonfarm payroll growth at a net gain of 153,000, down from a better-than-expected 227,000 in November. December’s unemployment rate may tick up to 4.3 for a third consecutive monthly rise. The key reason for the uptick, despite the subdued layoffs, is the plummeting hiring rate. The median duration of unemployment has climbed steadily throughout last year to ten and a half weeks in November – so even without mass layoffs, the ranks of unemployed swell as it’s harder to find work.
Thanks for watching.
[Jeff holds up sign saying "Thank You"]
Thanks for watching.
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