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Wall Street rings in 2007 with a short trading week. The U.S. financial markets will be closed Monday to celebrate New Year's Day, and the major U.S. stock exchanges will remain shuttered on Tuesday, to honor the passing of the nation's 38th president, Gerald Ford.
Monday, January 1
MARKETS CLOSED: The stock and bond markets will be closed today, New Year's Day.
Tuesday, January 2
MARKETS CLOSED: The New York Stock Exchange, the Nasdaq, and the American Stock Exchange will remain closed to honor the national day of mourning for former President Gerald Ford, who died last week. This will mark the longest time the major exchanges have remained closed since the September 11 terrorist attacks in 2001.
ISM INDEX: The Institute for Supply Management will release the latest results of its closely followed manufacturing sector index, which gauges factory activity nationwide.
Wednesday, January 3
FED MINUTES: The Federal Reserve will release the minutes from its December monetary policy meeting, when the central bankers voted to leave interest rates alone. The Fed was originally scheduled to issue its minutes on Tuesday but pushed the release back to Wednesday in view of the national day of mourning for President Ford.
CONGRESS IN SESSION: The 110th Congress convenes, with the Democrats in control.
AUTO SALES: The Big Three automakers are scheduled to release their latest sales results today.
Thursday, January 4
SERVICES INDEX: The Institute for Supply Management will issue the latest results of its nonmanufacturing index, which tracks the service sector.
EARNINGS TO WATCH: Constellation Brands and Monsanto
Friday, January 5
JOBS REPORT: The Labor Department will release its December jobs report, which will detail job creation figures for both the month and the full year of 2006. While high oil prices and a weakening housing market hurt consumers, the strength of the labor market supported their spending in 2006.
