The December jobs report and details from the Federal Reserve’s last policy meeting of 2022 will headline a short opening week of 2023 for investors as Wall Street limps into a new year after its worst run since the Global Financial Crisis.
U.S. stock and bond markets will be closed on Monday, January 2, in observance of New Year’s Day.
Economic data will pick up when traders return to a four-day trading week after a quiet end of December.
The Labor Department will publish its jobs report for December at 8:30 a.m. ET Friday morning, and economists expect a payroll gain of 200,000 jobs last month, per Bloomberg consensus estimates.
Outside of the headline jobs data, three additional updates on the labor market will be on the docket for investors this week, with the latest Job Openings and Labor Turnover Survey (or JOLTS report), ADP’s private payrolls data, and the Challenger Job Cuts report all due out.
Alongside the flurry of labor market releases, the Fed will release a readout of its December policy meeting, which investors will pore over for clues on the central bank’s next move. Last month, the Fed raised interest rates by 50 basis points, bringing total increases to its benchmark policy rate to 4.25% in 2022.
