Tuesday
Our first look at the labor market is at 10:00 AM, with job openings expected to fall to 7.6M, which would still be above the level we were at in December. Quits are expected to fall slightly to 3.2M. ISM Manufacturing PMI is expected to remain above 50, and construction spending is expected to rebound slightly with a 0.1% rise. Earlier in the day, Euro Area inflation is expected to have slowed to 2.1% in March.
Wednesday
Usually, on jobs week, Friday is the big day. However, this week, Wednesday gets that prize as all eyes will be on Washington for what President Trump is calling “liberation day.” The real question will be how big and how broad Trump chooses to make his tariffs.
Thursday
We are back to labor market data as jobless claims are expected to rise slightly to 226k. ISM services PMI is expected to stay above 53 and the trade deficit is expected to shrink slightly to -$122B
Friday
Nonfarm payroll is expected to show the economy creating 151,000 jobs in March with unemployment holding at 4.1%. Wages are expected to rise 0.3%, pushing up annual growth to 4.0%
