Macroeconomic Outlook for Next Week: First Non-Farm Payrolls Report Since Shutdown Arrives, Fed "Internal War" Escalates

According to Mars Finance, citing Jinshi News, as the relief brought by the end of the historic US government shutdown gradually dissipates, coupled with a flood of economic data about to hit the market and concerns about whether the Federal Reserve can successfully cut interest rates in December, cautious sentiment prevailed on Wall Street this week. The subsequent return of US economic data is likely to increase market volatility. Here are the key market events to watch this week (all times are Beijing time): Tuesday 02:00: Minneapolis Fed President Kashkari, a 2026 FOMC voting member, hosts a fireside chat; Thursday 03:00: The Fed releases its monetary policy meeting minutes, and New York Fed President Williams, a permanent FOMC voting member, speaks; Friday 02:40: Chicago Fed President Goolsby, a 2025 FOMC voting member, speaks; Friday 05:30: Philadelphia Fed President Paulson, a 2026 FOMC voting member, speaks on the economic outlook; Friday 20:30: New York Fed President Williams, a permanent FOMC voting member, speaks; Friday 22:00: Dallas Fed President Logan, a 2026 FOMC voting member, participates in a panel discussion of the "2025 Swiss National Bank and Its Watchers" event. The U.S. Bureau of Labor Statistics announced on Friday that it will release its highly anticipated September employment report next Thursday (November 20). The report was originally scheduled for release on October 3. The agency also stated that it will release September's inflation-adjusted real income data next Friday (November 21). Additionally, Nvidia is preparing to release its earnings report next Wednesday.