Private nonfarm payrolls in the US are projected to increase 212,000 (seasonally adjusted) in tomorrow’s October update of the ADP Employment Report, based on The Capital Spectator’s median econometric point forecast. The expected monthly gain is marginally below September’s increase.
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The projected risk premium for the Global Market Index (GMI) inched lower again in October vs. the previous month. GMI, an unmanaged, market-value weighted mix of the major asset classes, is currently expected to earn an annualized 4.0% over the “risk-free” rate for the long term (for details on the methodology, see summary below). Today’s forecast is slightly below last month’s 4.3% estimate.
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● Republicans have a 76.2% chance of winning a Senate majority | FiveThirtyEight
● US Manufacturing Index Unexpectedly Indicates Faster Growth In October | RTT
● US Consumer Spending Stable in October | Gallup
● German manufacturing sector rebounds in Oct after Sept dip: PMI | Reuters
● US October auto sales best in several years, GM misses | Reuters
● EU Cuts Euro-Area Growth Outlook | Bloomberg