Wednesday preview: US ADP payrolls report in focus

The market spotlight will shift towards the other side of the Pacific on Wednesday, as consultancy ADP publishes its private sector payrolls survey for November.

Its results may feed into expectations for the official monthly non-farm payrolls report due out on Friday, especially given steadily growing concerns regarding the recent slowdown in hiring.

To take note of, the consensus forecast for the ADP report is for a 430,000 rise in private sector payrolls but some economists were anticipating a substantially lower.

Ian Shepherdson, chief economist at Pantheon Macroeconomics, was an outlier among those, projecting an outright drop of 200,000.

Meanwhile, Federal Reserve chairman, Jerome Powell, will testify for a second time on the government's CARES act, this time before a financial panel of the US House of Representatives.

Later in the evening, and in the run-up to its next policy meeting, the Fed will publish its Beige Book.

Across the Channel meanwhile, readings on unemployment and producer prices in the euro area covering the month of October are expected at 1000 GMT.

Investors will also be keeping eyes out for any policy-relevant remarks from European Central Bank chief economist, Philip Lane, from 1400 GMT onwards, at the Thomson Reuters Global Investment Summit.

No major economic releases are scheduled for release in the UK.

Wednesday 2 December

INTERIMS

Augmentum Fintech, Loungers

INTERIM DIVIDEND PAYMENT DATE

BlackRock Smaller Companies Trust

INTERIM EX-DIVIDEND DATE

James Halstead 5.5% Cumulative Preference 1

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Crude Oil Inventories (US) (15:30)

MBA Mortgage Applications (US) (12:00)

Producer Price Index (EU) (10:00)

Retail Sales (GER) (07:00)

Unemployment Rate (EU) (10:00)

GMS

Gunsynd

FINALS

Avon Rubber, Ixico, Residential Secure Income, Stock Spirits Group

AGMS

Brighton Pier Group (The), JPMorgan Global Markets Emerging Income Trust, Kingswood Holdings Limited, Target Healthcare Reit Ltd, Tri-Star Resources

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (00:01)

PMI Construction (09:30)

FINAL DIVIDEND PAYMENT DATE

Clinigen Group, London Finance & Investment Group