Labor and services data line up for Wednesday’s market calendar

Investors will get a compact read on jobs, housing demand and the service economy on Wednesday, with four U.S. data releases scheduled before and shortly after the opening bell. Calculated Risk’s calendar puts private payrolls, job openings, mortgage purchase applications and the ISM services gauge in focus, giving markets several fresh snapshots of economic momentum.

The day starts at 7:00 a.m. ET, when the Mortgage Bankers Association is scheduled to publish its mortgage purchase applications index. Calculated Risk said the release will cover two weeks of data. The purchase applications index tracks applications for mortgages used to buy homes, rather than refinance existing loans, so investors often treat it as a timely read on housing demand.

Mortgage rates remain a key backdrop for that report. Calculated Risk noted that the mortgage rates it referenced are from MortgageNewsDaily.com and apply to top-tier borrower scenarios. Higher or lower mortgage rates can change the monthly payment on a home loan, which can affect how many buyers apply for financing.

At 8:15 a.m. ET, ADP is scheduled to release its December employment report. Calculated Risk said the ADP report covers private payrolls only, which means it excludes government jobs. The consensus cited by Calculated Risk is for a gain of 50,000 private-sector jobs in December, compared with a reported decline of 32,000 jobs in November.

That ADP number is separate from the government’s main employment report, but it still gives investors another look at hiring before broader labor-market data are digested. Payrolls measure the number of jobs on employer books, so a positive reading signals that private employers added positions during the month, while a negative reading signals that they cut jobs on net.

At 10:00 a.m. ET, the Bureau of Labor Statistics is scheduled to publish the Job Openings and Labor Turnover Survey for November, according to Calculated Risk. The report, often called JOLTS, tracks job openings and worker turnover. Openings show how many positions employers are trying to fill, while turnover data can give a clearer view of hiring and separations inside the labor market.

The final scheduled release on the calendar is also set for 10:00 a.m. ET: the ISM Services Index for December. The index is a closely watched gauge of activity in the services side of the economy, which covers a broad range of non-manufacturing businesses. Taken together, Wednesday’s reports will give investors several angles on demand for workers, demand for homes and business conditions in services.

This story draws on original reporting from Calculated Risk.