ESZ9 For 10/29/2009

How To Use

Fed and Agency Announcements

GDP
8:30 AM ET

Jobless Claims
8:30 AM ET

Tim Geithner Speaks
9:30 AM ET

EIA Natural Gas Report
10:30 AM ET

3-Month Bill Announcement
11:00 AM ET

6-Month Bill Announcement
11:00 AM ET

7-Yr Note Auction
1:00 PM ET

Fed Balance Sheet
4:30 PM ET

Money Supply
4:30 PM ET

Tim Geithner Speaks
8:40 PM ET

Market Consensus Before Announcement-GDP
GDP was still barely in negative territory in the second quarter with the Commerce Department nudging up its third estimate to an annualized 0.7 percent decrease from the previous estimate of a 1.0 percent decline. Final sales were revised to be more positive at an annualized 0.7 percent gain in the second quarter, compared to the second estimate of a 0.4 percent gain. On the inflation front, the GDP price index was flat for the quarter. Looking ahead, traders are expecting the advance estimate for third quarter GDP to clearly establish that the economy was in recovery in the third quarter. The big question is by how much. Since this release is expected to show the first positive GDP growth since the second quarter of 2008, this report will get heightened attention.

Market Consensus Before Announcement-Jobless Claims
Initial jobless claims edged higher in the October 17 week, up 11,000 to 531,000. But the four-week average continued to move lower, down for the seventh week in a row to 532,250 for a decrease of about 20,000 from month-ago levels. Continuing claims dropped 98,000 for the October 10 week to 5.923 million, roughly 100,000 below month-ago levels. But reading the latest number is difficult due to an uncertain combination of new hiring and the expiration of benefits