The Week Ahead: Cyber Monday, corporate profits, jobs report

Here’s a look at some of the stories Missouri Business Alert is tracking this week:

Monday

Markets are open for a full day for the first time in close to a week after they were closed Thursday and had a shortened session Friday.

It’s Cyber Monday, online retailers’ answer to Black Friday and Small Business Saturday. Adobe projects $3.36 billion of revenue will be generated for the day, making it the largest revenue day of the holiday season. That follows an estimated $3.34 billion in online sales on Black Friday.

The Missouri Citizens’ Commission on Compensation for Elected Officials is scheduled to meet in Jefferson City.

Tuesday

The Census Bureau will report U.S. corporate profits for the third quarter of 2016. The figure is expected to dip 1.7 percent from the third quarter of 2015, according to Econoday.

The Commerce Department will release its second estimate of third-quarter GDP. Econoday’s consensus estimate calls for a gain of 3.1 percent.

Giving Tuesday, which seeks to harness the power of social media and tap into people’s holiday spirit to drum up donations for charitable causes, celebrates its fifth year. Last year, more than 700,000 people combined to contribute $116 million in online donations, according to GivingTuesday.org.

Mallinckrodt, the English pharmaceutical company that has its U.S. headquarters in St. Louis, is scheduled to report quarterly results and hold a conference call.

Wednesday

The Federal Reserve Bank will release its final Beige Book report of the year, providing an anecdotal glimpse of the economic conditions in each of the Fed’s 12 districts.

Companies scheduled to report quarterly earnings include Box, Gordmans Stores and La-Z-Boy.

Thursday

The first day of December was supposed to be a big day for U.S. employers and workers, with the Obama administration’s new overtime rule set to take effect. However, the measure, which would have raised the cap for employees who qualified for overtime pay and would have affected an estimated 85,000 Missouri employees, was blocked last week by a federal judge.

Companies scheduled to report quarterly earnings include Dollar General, Kroger, Sears and Smith & Wesson.

Friday

The Labor Department will deliver its monthly employment situation summary. Employers added 161,000 jobs in October as the unemployment rate dipped slightly to 4.9 percent and wages increased 0.4 percent. The November jobs report will provide several key data points for the Federal Reserve Bank’s Federal Open Market Committee to consider at its December meeting.

Companies scheduled to report quarterly earnings include Big Lots.

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