Highlights
With the government shutdown under way, the usual official economic reports are not happening, including weekly jobless claims at 8:30 am EET and the monthly factory orders report at 10 am ET today. The focus is turning to the Trump administration's next steps during the shutdown to end government programs permanently and fire government workers as opposed to furloughing them until the government funding is restored. It's unclear so far how many workers would be affected or the economic effect.
Russell Vought, the budget director, posts on social media that the administration has suspended or plans to cancel $26 billion in previously approved funds for programs that happen to be largely in states controlled by Democrats. That includes spending on the Hudson River tunnel and the Second Avenue subway in New York.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.