Week Ending: November 6th, 2026

Week Ending: November 6th, 2026

Manufacturing and Employment Were in the Spotlight This Week. This week kicked off with a series of key reads on the manufacturing economy with ISM Manufacturing PMI beating forecasts on stronger than expected new orders - another signal confirming strong economic growth. ISM's Services PMI also cleared hurdles. Likewise, capital goods orders ex-aircraft was stronger than forecast, providing a key boost to our earnings model. Nonfarm productivity surged in 3Q and unit labor cost sunk - hinting at benefits from AI. Jobless claims were lower than forecast and the unemployment rate fell to 4.1% - confirming continued stabilization in employment. University of Michigan Consumer Sentiment cleared expectations but remains weak.