The day ahead: Wednesday

September 1, 2009

Ahead of Friday’s employment report investors will look to the ADP survey and Challenger report, as well as the FOMC minutes, for direction.

*  The ADP National Employment survey is expected to show private employers cut 250,000 jobs in August, down sharply from the 371,000 they shed in July. The Challenger report is also expected to be upbeat.

*  Minutes from the Federal Reserve’s Aug 11-12 meeting will give markets more clues on how close the central bank is to normalizing interest rates.

*  Retailers are likely to get an “incomplete” mark for the key back-to-school season when they report August sales on Wednesday and Thursday, as a late Labor Day holiday pulls some sales into September.

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